What are the different ways in which I can take title?
The most common ways to take title are tenants in common and joint tenancy. Some states also allow tenancy by the entirety. Tenants in common own an undivided interest in the property. If one of the owners dies, the survivor (or survivors) keep their interest, and the decedent’s interest goes to his or her heirs or devisees if there is a will. With joint tenancy, if one of the owners dies, the property automatically goes to the survivor (or survivors). Tenancy by the entirety is available only in certain states, and generally only to married co-owners for the property in which they reside. Tenants by the entirety enjoy the same benefits as joint tenants, but they also receive an additional benefit. If one of the owners has a judgment entered against him or her, that judgment cannot be enforced against the property so long as the owners reside at the property and remain married. However, there are some significant disadvantages, as well. It is not the “one size fits all” way to hold tit
