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"She made the whole process seem easy. "
"Lisa was our agent when my husband and I bought our first house. She made the whole process seem easy. We built our house from the ground up. Lisa was with us from the first day we signed the contract to the day we moved in four months later. As our family grows and our household needs change, Lisa will be our agent for all future home selling and buying." Sheila L.
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Titles >Ways to Hold Title When two or more people purchase property together, there are three ways that the title can be held. Knowing the implications of each form of ownership will help you decide how to write your deed.
"Tenancy by the entireties" is reserved exclusively for married people. Both husband and wife own an undivided interest in the property. On the death of one party, the surviving spouse owns the entire property and no probate will be necessary. When unmarried persons buy a home together, they should seek legal advice regarding how title should be held. As "tenants in common" each party owns a percentage interest in the property. On the death of one party his or her interest does not go to the surviving owner but is distributed in accordance with the will of the deceased, whose estate must be probated. As "joint tenants" each party owns an undivided, equal interest that passes automatically to the surviving joint tenant. Probate is not necessary if the deed reads "joint tenants with rights of survivorship".
It is important to know that in most courts, if a deed is written without specification of how title is held, the property is titled as "tenants in common."
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What is the world's most expensive Monopoly set?
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San Francisco jeweler Sidney Mobell created an exclusive $2 million Monopoly set, with solid 23 carat gold houses, chimneys made of rubies and sapphires and dice with 42 full cut diamonds for spots. |
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