Thursday, January 24, 2019 / by Shaun Radcliffe
Brittney: Hi, Brittney with Radcliffe and Associates
Coldwell Banker, Global Luxury. And today, I'm here with my friend, Emily, from Lawyers Title and we're going to be going over some of the most common ways to hold title whether you're an individual or holding title with someone else. Emily!
Emily: Thank you very much. So, when it comes to holding title, it kind of gets broken down into two branches. So, either sole ownership or co-ownership. Sole ownership refers to an individual holding title. So, a single man or a single woman or a married man or woman with his or her sole separate property. So, those are if you're taking title as an individual. If you're going in on the property with your spouse or domestic partner or any other person then that would be in the co-ownership side of things. There's community property. So, if it's, you're husband and wife, there's community property with the right of survivorship. So, if one of the husband or wife passes away then their rights go over automatically to that person left over. Also, there's a joint tenancy as well as tenants in common. So, you don't have to necessarily be married in order to hold title that way as well. So, we can get a little more specific, but they should definitely call you to find out more.
Brittney: Perfect! Thank you so much. So, of course, if you guys have any questions regarding title or real estate, please feel free to give us a call. My phone number is 714-261-5469. Thanks.