Common Ways To Hold Title in California

Tenancy in Common

Joint Tenancy

Community Property

Community Property With Right of Survivorship

Parties

Any number of persons. (can be husband & wife.)

Any number of persons.

Only husband and wife.

Only husband and wife.

Division

Ownerships can be divided into any number of interests equal or unequal.

Ownership interests must be equal.

Ownership interests are equal.

Ownership and management are equal.

Title

Each co-owner has a separate legal title to his undivided interest.

There is only one title to the whole property.

Title is in the "community". Each interest is separate but management is unified.

Each interest is separate but management is unified.

Possession

Equal right of possession.

Equal right of possession.

Equal right of possession.

Husband and wife have equal management and control.

Conveyance

Each co-owner's interest may be conveyed separately by its owner.

Conveyance by one co-owner without the others breaks the joint tenancy.

Both co-owners must join on conveyance of real property. Separate interest cannot be conveyed.

Separate interest cannot be conveyed without consent of spouse. Upon death survivor can convey full title with proper affidavit.

Purchaser's Status

Purchaser will become a tenant in common with the other co-owners in the property.

Purchaser will become a tenant in common with the other co-owners in the property.

Purchaser can only acquire whole title of community: cannot acquire a part of it.

Can only acquire as husband and wife and must express (in deed) the intent to acquire title with "right of survivorship".

Death

On co-owner's death, his interest passes by will to his devisees or heirs. No right of survivorship.

On co-owner's death, his interests end and cannot be disposed of by will. Survivor owns the property by rights of survivorship.

On co-owner's death 1/2 belongs to survivor in severalty 1/2 goes by will to descendant's devisees or by succession to survivor.

By affidavit death of spouse for right of survivorship, spouse gains full title.

Creditor's Rights

Co-owner's interest may be sold on execution sale to satisfy his creditor. Creditor becomes a tenant in common.

Co-owner's interest may be sold on execution sale to satisfy creditor. Joint tenancy is broken, creditor becomes tenant in common.

Co-owner's interest cannot be seized and sold separately. The whole property may be sold on execution sale to satisfy creditor.

Co-owner's interest cannot be seized and sold separately. The whole property may be sold on execution sale to satisfy creditor.

There are significant tax and legal consequences on how you hold title. I strongly suggest contacting your attorney or your CPA for specific advice on how you should actually hold title to your property.

Home Status Report

Want to know if a home is still on the market, or if the price has changed? We can help. Simply fill out the information below and with no obligation to you we'll get back to you with your requested information. We guarantee your privacy.
 
Your Information
*Name:
*Email:
Phone:

Property Information
Property 1:
Property 2:
Property 3:

Note: Fields with an * are required


Regency Real Estate Brokers
Phone: Cell: Fax:

Find A Home! | Smart Buyer Program | Smart Seller Program | Who Is Margo Murray | City Links | 27 Tips for Top $ | 9 Step System to Sell Fast | Rancho Santa Margarita City | Mission Viejo City | Lake Forest City | Laguna Hills | Laguna Niguel City | Foreclosures | Property Taxes | Samlarc Assoc. | Real Estate Stats and Charts | WhyDidYourHomeNotSell | Home | Heart of the Matter | 9 Steps to Ownership | How to Sell Your Home | Buying Foreclosures/REO's | My Blog

Copyright © 2008 Regency Real Estate Brokers
Portions Copyright © 2008 a la mode, inc.
Another XSite by a la mode, inc. | Admin LoginTerms of UseSite Map
All rate, payment, and area information are estimates and approximations only.