Common ways to hold Title from your Cal Counties Title Nation Contact Brian Forkel.

1. Common Ways
to hold TITLE
COMMUNITY PROPERTY
TENANTS IN COMMON JOINT TENANTS COMMUNITY PROPERTY WITH RIGHT OF
SURVIVORSHIP
Common Ways To Hold Title 14
Only husband and wife and
Any number of persons. Any number of persons.
PARTIES Only husband and wife only when interest is created
( can be husband and wife) ( can be husband and wife)
on or after 07/01/01
Ownership can be divided
Ownership interest can not be
DIVISION into any number of interest, Ownership interest are equal Ownership interest are equal
divided
equal or unequal
Each co-owner has a Title in the “Community” Title in the “Community”
There is only one title to the
TITLE separate legal title to his (Similar to title being in (Similar to title being in
whole property
undivided interest partnership) partnership)
POSSESSION Equal right of possession Equal right of possession Equal right of possession Equal right of possession
Both co-owners must join in Both co-owners must join in
Each co-owner’s interest may Conveyance by one co-owner
conveyance of real property. conveyance of real property.
CONVEYANCE be conveyed separately by its without the other’s breaks the
Separate interest cannot be Separate interest cannot be
owners joint tenancy
conveyed conveyed
Purchaser becomes a tenant Purchaser becomes a tenant Purchaser can only acquire Purchaser can only acquire
PURCHASER’S
in common with the other co- in common with the other co- whole title of community. whole title of community.
STATUS
owner owner Cannot acquire a part of it Cannot acquire a part of it
On co-owner’s death, his On co-owner’s death, ½ goes On co-owners death,
On co-owner death, his
interest passes by will to his to survivor in severalty. Up to decedents interest ends and
interest ends and cannot be
DEATH devisees or heirs. No ½ goes by will or succession cannot be willed. Survivor
willed. Survivorship owns the
survivorship right to others (consult attorney owns the property by
property by survivorship
with specific questions) survivorship
If passing by will, tenancy in
SUCCESSOR’S Devisees or heirs become Last survivor owns property Last survivor owns property
common between devisee and
STATUS tenants in common in severalty in severalty
survivor results
Co-owner’s interest can not Co-owner’s interest can not
Co-owner’s interest may be be sized and sold separately. be seized and sold separately.
Co-owners interest may be
sold on execution sale to The whole property may be The whole property may be
CREDITOR’S sold on execution sale to
satisfy creditor. Joint tenancy sold to satisfy debts of either sold to satisfy debts of either
RIGHT satisfy his creditor. Creditor
is broken, creditor becomes a husband or wife depending on husband or wife depending on
becomes a tenant in common
tenant in common the debt . (Consult attorney the debt. (consult attorney
with specific questions) with specific questions)
Favored in doubtful cases Strong presumption that Strong presumption that
Must be expressly slated and
PRESUMPTION except husband and wife property acquired by husband property acquired by husband
properly formed. Not favored
( See community property) and wife is community and wife is community
Brian Forkel
Account Executive
Cell: (909) 262‐9094
Forkels4title@live.com • www.forkels4title.com
Pasadena Office: Customer Service/ Open Orders: (888) 282‐5885
Newport Beach Office: Customer Service 949‐514‐6252
Material discussed is meant for general illustration and/or infomercial purposes only and it is not to be considered as tax, legal, or investment advice. Although the information has been gathered from sources believed to be
reliable, please note that individual situations can vary, therefore, please consult a professional for specific advice.