I don't determine forms of ownership.   This should be a decision by the client and in California through a review with the title/escrow company along with a discussion with a legal/tax professional.

That choice should be made by the buyers in consultation with a real estate attorney or perhaps also a CPA

This is not an issue an agent becomes involved in.  Big liability if you decide to go there!

I had a situation once where a newly married couple was buying with their parents...obviously an in-law to another.  When the wife of the couple, who was buying with her inlaws, asked about this, I told her the difference between Joint vs. Tenants in Common was whether or not, if her in-laws died, their ownership interests would pass solely to them, or if they could, for instance, pass to their other child...her sister in law.  

Then I gave her the number to the title attorney and after consulting with her husband and inlaws, they went Joint Tenancy.

All I can do is explain the difference, not choose.  But explaining the difference made the choice an easy one for the client.

Seana,

Exactly what Michael Jacobs said.  

Michael Jacobs has this one covered very well as does Jeff Dowler who are both in the same state as me - California.

As a Realtor, it's not your call, not your business and very much your liability if you get involved in that decision. And what Michael Jacobs and Jeff Dowler said.

Seana Johnson -let attorney explain the buyer about the benefits of different types of ownerships - and let buyer decide about it.

Oh dear  this question is a huge problem. We don't determiner what is better for our client - ever 

This is a discussion your clients should be having with their attorney or accountant. 

I don't determine that. It's between buyers, their attorneys and maybe accountants.

It is not my decision or responsibility to advise on how to take title. I refer it to an attorney.

The clients make the decision.  They should consult legal counsel and their tax advisors.

The choice of how to take title should be between the buyer(s) and their attorney or cpa.

It depends on the buyers situation, husband and wife will probably hold title differently than an LLC partnership for example. Title attorney will explain it best.

This kind of advice is better coming from someone with a law degree.

Not your place to advise..you are not an attorney. They need to speak with a real estate attorney.

As Jeff Dowler said - that's not something I would be comfortable giving advice about - let your attorney or CPA be your guide!

Explain both to the buyer(s) and they choose.

I don't determine how they should take title.  They work with the title agent to determine what is best for them and if they need an attorney's help then we refer them to an attorney.

By law, that's not a determination I'm qualified to make - it a client needed advice on it beyond my description of what it is, I'd recommend they seek legal counsel.

I haven't a clue on the forms of ownership, I transfer everything into my trust.  If someone asks, I tell them to do a call with their accountant, attorney and escrow/title to help determine for their situation.

That is best answered by title representative

This is a good subject to discuss with an attorney and/or accountant.

Depends

At first glance, you see that taking title is easy but then, why so many ways? That's the thing! There are reasons as to how and why best discussed with a professional like an attorney or CPA even though agents can opinion-ate

This is an IMPORTANT issue.

As I read all the fine print of my state issued real estate sales license, I find no provision for issuing guidance on this matter. I would advise things of such consequence be directed to their attorney or tax consultant. I will suggest scenarios that depict such consequence. Never from my lips will escape the words, "You should......."

If they pick the wrong horse, I may ask, "Who did you consult?"

Question for an attorney. Offering that advice is the unauthorized practice of law!

I would never tell a client how to take ownership.  Refer them to a real estate attorney or a title company.

I can tell them what each is, but i do not practice law when questions turn specific based on law. 

@Chapter 6, Title, Ownership

it would be wise for you to refer those clients to a real estate attorney for guidance....don't wear the legal hat....very dangerous.

Carol Williams nailed this one!

Ask the settlement/closing attorney. This is a legal issue.

I make those choices for myself, but never for a client, and the free speech amendment does not protect my right to talk to my clients about it either

The best way depends on who, how many and overall goals at death

You choose what is best for the home buyers.

That is a question your clients should pose their attorney and accountant. We should not answer the question, we can only provide the options for ownership, but not recommend.

 Often times the choice is not ours when representing buyers...

Seana Johnson I think we should be able to discuss the types of ownership intelligently with a client, but the decision should be the clients after discussing it with their real estate attorney.