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How To Hold Title In California?

Once buyer's offer is accepted, it is time to think about how to hold title to the property. Since there is a legal and tax consequences on how title is vested, professional consultation from an attorney and/or CPA are strongly recommended.

Type of Ownership	Own By	Divisible Interest?	Right Of Survivorship?
Sole Ownership	1	n/a	No
Tenancy In Common	2 or more	Yes	No
Joint Tenancy	2 or more	No	Yes
Community Property	Only Husband & wife	Yes, 50% husband and 50% wife.	No
Community Property with Right of Survivorship	Only Husband & wife	No	Yes
Living Trust	1 or more	As specified in the trust provision	As specified in the trust provision

The comparison above is provided for information only, it should not be used to determine how you hold title.

Posted by Caroline Tsou on 11/03/2008 09:48 AM

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This post has been included in California Information Los Angeles County, CA Information Phillips Ranch, CA Information

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