Common Home Title Vesting Options

​There are many considerations when deciding how you’ll hold title on your home. Below are some common ways to hold title…

NOTE:
This article is not meant to provide legal advice, as we’re not licensed to do so. When deciding how you’ll take title on your home, it’s best to check with legal counsel to determine what’s most advantageous given your unique situation. Individual states may have different laws that can affect your decision in how you'll hold title.
 
Single Man/Woman:
This is a common form of vesting for an individual who is not legally married or in a domestic partnership.
 
A Married Man, Woman as His/Her Sole and Separate Property:
This vesting is generally for married folks looking to maintain ownership in their own name.
 
Community Property:
This form of title has the property owned equally amongst the married owners, as opposed to separate property that is acquired before marriage.
 
Community Property with Right of Survivorship:
This is similar to “Community Property” vesting, but adds the right of survivorship benefit, which may have tax benefits since the decedent’s interest ends and the survivor owns the property.
 
Joint Tenancy:
This form of ownership may involve 2 or more people, in any relationship capacity. Owners each have equal interests to the property and such interests are conveyed to surviving joint tenants upon the passing of any owner.
 
Tenancy in Common:
Tenancy in Common varies from Joint Tenancy in that each owner may have unequal interests and allows for various options in handling that ownership share.
 
Trustees of a Trust:
A Trust allows for ownership to be held and managed by the trustee of a trust, for the benefit of the people specified in the trust agreement (beneficiaries).
 
Other Legal Entities:
Title can also be held in a Corporation, Partnership, or an LLC.
 
Again, the above is being provided for informational purposes only. We recommend checking with legal counsel before deciding on which form of ownership you’ll choose.