How should you hold Title to your new Home?

Real Estate Agent with Long and Foster Real Estate Inc.

how you should hold title to your new home?

How you hold title to property can have a big impact later. There are more and more people buying homes with friends, relatives, co-workers and investors. Before you go to settlement you will need to know how you are going to hold title with the other person or group of persons involved.


Sole Ownership is the easy one. That is you and you alone. Tenants in Common is when two or more people have ownership in one property. The ownership percentage in relation to the sales price may or may not be equal. The distinct difference with tenants in common is that you or the other parties involved can sell their interest to a third party. You may still retain your share of the property while other co-owners sell their interest in the property.


Tenants in Common has right of survivorship. That means when you die your share of the property can be willed as you please. The heirs can then maintain or sell their interest in the property. Joint Tenants is when two or more people purchase a property in equal shares and at the same time. One owner cannot sell a portion of the property to a third party. And with this form of ownership you cannot choose who your share passes to upon your death. The property passes to the remaining owner(s) with an automatic right of survivorship.


Lastly, Tenants by the Entirety is another form of ownership. This is really designed for husband and wife. Together the husband and wife hold title to the property with a right of survivorship. In this case unlike other forms of ownership the survivor will have automatic, sole ownership. This survivorship will be to the exclusion of the deceased spouse’s heirs that may be named in a will. It is wise to check with you attorney as to which way may be best for you in your situation. I am not an attorney and cannot and should not suggest any form of ownership. I would be interested in your hearing your suggestions regarding future blogs about the world of real estate.

Posted by

John Day agent


Long and Foster Real Estate

Annapolis, MD 21401

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