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."

	See All Tips In The "Titles" Category >
	See Complete Library Of Hundreds Of Tips In 30+ Categories >

Grace and Lucas Miranda
The Miranda Team
Keller Williams World Media Center
401 South First Street
Burbank, CA 91502
Office: 818-239-3545
Fax: 818-239-3555
DRE#: 01275725
Office DRE#:: 01521876
Grace's Email: GraceMiranda@live.com
Lucas's Email: LucasMirandaRE@gmail.com

The Miranda Team at Keller Williams World Media Center is one of the highest producing real estate teams in this area. The team is composed of Grace Miranda, listing agent, and her son, Lucas Miranda, as the team’s buyer’s specialist. Grace and Lucas are consistent top producers serving areas that include Burbank, Glendale, Sun Valley, Shadow Hills, North Hollywood, Studio City, Toluca Lake, and surrounding communities. They serve a wide spectrum of clients from first time home buyers, entertainment industry clients, to equestrian enthusiasts and luxury properties. Their team combines attention to detail, integrity, professionalism, the highest service, as well as utmost discretion as they assist their clients in the process of selling and buying homes. Need to buy a home in the San Fernando Valley, Santa Clarita Valley, or the San Gabriel Valley? Call Lucas today to start the hunt for your perfect home at an amazing price! Need to sell a home in Burbank, Glendale, Sun Valley, Shadow Hills, North Hollywood, Studio City, Toluca Lake or surrounding areas? Give Grace a call to get your home sold quickly for top dollar. Grace also specializes in Short Sales, pre-foreclosure sales, and is certified as a Short Sale Specialist and an REO Specialist.