Page 7 - California Home Buyers Handbook

Be prepared to tell your Escrow Officer how you would like to hold title to your property.

Common Ways of Holding Title
Title to real property may be held by a single individual or entity, known as Sole and/or Separate Ownership, or by
two or more individuals and/or entities known as Co-Ownership. Following is a brief list of common ways to hold
title. Ownership and tenure of title varies by state. Remember, it is important to distinguish the proper way to hold
title to you property. You may want to consult with your Attorney or Tax Advisor for what form suits your particular
circumstance and needs.

Community Property Joint Tenancy Tenancy In Common Community Property Right of Survivorship Partnerships Trusts

Only married couple Two or more persons Two or more persons or Only married couple
Parties entities
Ownership interests Undivided equal shares Equal or unequal shares Ownership interests are
Division are equal in the entire property in the entire property equal

Title is in the Title is to the entire Each co-owner has title Title is in the
Title “community”-each property to his or her undivided “community” -each
interest is equal interest interest is equal
Equal right of Equal right of Equal right of possession Equal right of
Possession possession possession unless there is an possession
agreement to the contrary
Consent of the other Co-owner’s interest may Each co-owner’s Consent of other
spouse required except be conveyed without interest may be spouse required
Conveyance for the co-owner interest consent but conveyance conveyed separately
transferred upon death
by one co-owner without without consent
the others terminates
the joint tenancy
Purchaser’s Purchaser acquires title Purchaser acquires Purchaser acquires Purchaser acquires title
of community
of community
grantor(s) interest
grantor(s) interest; if
Status less than all, joint Subject to the terms of the partnership agreement Subject to the terms of the trust
tenancy is terminated
On co-owner’s death, On co-owner’s death On co-owner’s death On co-owner’s death
Transfer 1/2 belongs to survivor the entire tenancy his or her interest the entire tenancy
and 1/2 transferred by
belongs to the survivor
passes by will or
upon will or intestate intestate succession belongs to the survivor
Death succession
Successor's Heirs or devisees are Last survivor owns Heirs or devisees are Surviving spouse owns
Status tenants in common with property tenants in common with property
surviving spouse
other co-owners
Co-owner’s interest may Co-owner’s interest may Co-owner’s interest may Co-owner’s interest
be sold at execution sale be sold at execution be sold at execution may be sold at execution
Creditor’s to satisfy creditor. sale to satisfy creditor. sale to satisfy creditor. sale to satisfy creditor.
Rights Purchaser becomes Joint tenancy is broken. Purchaser becomes Purchaser becomes
tenant in common.
tenant in common.
Purchaser becomes
tenant in common.
tenant in common.

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