Title to real property in California maybe be held by individuals, either in Sole Ownership or in Co-Ownership. Co-Ownership of real property occurs when title is held by two or more persons. There are several variations as to how title maybe held in each type of ownership. The following brief summaries reference some of the more common examples of Sole Ownership and Co-Ownership.
Part 1: Sole Ownership
A Single Man/Woman
A man or woman who is not legally marries
example title: John Doe, a single man
A Unmarried Man/Woman
A man or woman, who have been married is legally divorced
example title: Jane Doe, an umarried woman
A Married Man/Woman, as His/Her Sole and Seperate Property
When a man or woman wishes to acquire title in his or her name alone, the spouse must consent, by quitclaim deed or otherwise, to transfer thereby relinquishing all right, title and interest in the property
example title: John Doe, a married man, as his sole and seperate property
The decision as to how you take title will be decided by the buyer in escrow. We advise you to consult your financial advisor to make the best decision for you and your family.
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