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Laramie,Wyoming Real Estate: Taking Title in Wyoming

By
Real Estate Broker/Owner with Live in Laramie Real Estate, Laramie, Wyoming WY #12296

In Wyoming, you have the choice of taking title of real property in 8 different ways:

  • Sole Owner                                       
  • Husband and Wife
  • Joint Tenants with Rights of Survivorship
  • Tenants In Common
  • Partnership
  • LLC
  • Corporation
  • Trust

Often, deciding on which way to take title is straightforward.  But other times,the nature of the relationships between owners and ownership interests will determine the best way title should be recorded.  Over the next few days I will explain what each way to take title means.  And as always, (big disclaimer here!) consult with an attorney to get the best advice for your situation.

 

 .

Posted by

Brenda Whitman, Broker/Co-owner                                                Office Phone: 307.460.3298

Live in Laramie Real Estate                                                                Cell Phone: 307.399.5477

302 S 2nd Street, Suite 206                                                      E-mail: brenda@liveinlaramie.com

Laramie, Wyoming  82070                                                       Office Website:  www.liveinlaramie.com

Comments (9)
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Richard Strahm
American Foursquare Realty - Lansdale, PA
Lansdale and North Penn Real Estate

It's nice to see it in black and white!  I'm surprised at times when at the settlement table -- and the first the buyers ever hear about this is when the title clerks asks them!

Feb 19, 2011 01:50 PM
Brenda Whitman, Live in Laramie Real Estate
Live in Laramie Real Estate, Laramie, Wyoming - Laramie, WY
Broker/Co-Owner, Laramie, Wyoming

Richard - I hope I can do the explanations justice!  Especially since it can be complicated sometimes . . . .

Feb 19, 2011 02:05 PM
Johnathan R. Therriault
JTHIS-Professional Home Inspection Team - Blakeslee, PA
Inspecting the Pocono's, one house at a time.

I’ll be back to read your descriptions, I wasn’t aware there were so many options. I wonder if the same is true for Pa. 

Feb 20, 2011 12:42 AM
Andrea Swiedler
Berkshire Hathaway HomeServices New England Properties - New Milford, CT
Realtor, Southern Litchfield County CT

Brenda, great information! I am enjoying your series... :D

Feb 20, 2011 01:32 AM
Roy Kelley
Retired - Gaithersburg, MD

Good information for home buyers. Those that plan to use mortgage financing should check with their lender before forming a corporation or LLC.

 Life is good when you have flowers to photograph!

Feb 20, 2011 01:54 AM
Brenda Whitman, Live in Laramie Real Estate
Live in Laramie Real Estate, Laramie, Wyoming - Laramie, WY
Broker/Co-Owner, Laramie, Wyoming

Hi Johnathan - Oh no!   Now the pressure is on!  LOL

Thanks, Andrea.  Just trying to get all those questions answered that always seem to come up.  That way I will never have to answer them again . . . . think it will work?! ;-)

Feb 20, 2011 01:55 AM
Joshua Zargari
MJ Decorators Workshop LI staging and home decorating - Lynbrook, NY
MJ Decorators Workshop

Great information, Brenda.

Feb 20, 2011 08:32 AM
Gloria Todor
Premier Property Sales & Rentals - Springfield, PA
& Doug Durren (484) 431-3686 in SE PA

Brenda, You are really doing great series for your readers!  Enjoyed your public art series, now business series.  Good stuff!

Gloria

Feb 22, 2011 03:36 PM
Brenda Whitman, Live in Laramie Real Estate
Live in Laramie Real Estate, Laramie, Wyoming - Laramie, WY
Broker/Co-Owner, Laramie, Wyoming

Roy - Good Point!  If there is a lender involved, they need will need to be informed.

Hi Josh, Thanks for stopping by.

Hi Gloria!  Thanks!  Now the only question is, what to do next?! ;-)

Feb 23, 2011 04:24 AM
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