There are advantages and Limitations to the way you take title. We cannot advise but we can provide you with information and then if you are not sure you know which way to go then call your attorney to help make an informed decision.
Title to real property in California may be held by individuals, either in Sole Ownership or in Co-Ownership. Co-ownership of real property occurs when title is held by two or more persons. There are several variations as to how title may be held in each type of ownership.
Today we will address Sole Ownership and Co-Ownership will be on tomorrow's blog:
A Single Man or Woman is a man or woman who is not legally married. Example: Mary Smith, a single woman.
An Unmarried Man or Woman who has been married and is legally divorced. Examples: Mary Smith, unmarried woman.
A Married Man/Woman, as his or her sole and separate property. When a married woman or man wishes to acquire title in his or her name alone, the spouse must consent to transfer thereby relinquishing all right, title and interest in the property. Example: Mary Smith, a married woman, as her sole and separate property.
Alice Ponti and Lori Hagge, Realtor Associates, CRS/GRi
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