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WE ARE PLANNING TO BUY A HOME. WHAT ARE THE ADVANTAGES TO “TENANTS IN COMMON” OWNERSHIP?

April 26, 2017advantages buy Home ownership planning tenants in common

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WE ARE PLANNING TO BUY A HOME. WHAT ARE THE ADVANTAGES TO “TENANTS IN COMMON” OWNERSHIP?

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Many couples believe that ownership as tenants in common is a more flexible option that joint tenancy because it allows each co-owner to will his or her share of the property separately. Other possible advantages to tenants in common ownership include an independent method of holding title in case of divorce and potential tax benefits in some states. Consult a real estate attorney for a complete explanation of ownership alternatives. A real estate agent who is a REALTOR, a member of the NATIONAL ASSOCIATION OF REALTORS, can assist you in locating a qualified attorney.