What are the various ways I can take title to property?
There are innumerable ways in which the title, or ownership, or real estate may be held. A brief overview of three very common types of ownership and certain characteristics of each of these types are set forth below: Tenancy by the Entireties This manner of holding title is only possible between a husband and wife and is extinguished upon a divorce, after which the parties hold title as Tenants in Common. Tenancy by the Entireties includes a right of survivorship, which that upon the death of one spouse, the survivor then is the sole owner of the property. During ownership, neither spouse may sell or mortgage their interest acting alone. Judgment or liens against only one spouse do not attach to the property held as Tenants by the Entireties. Joint Tenancy This form of ownership requires two or more persons, who need not be related to one another. Joint tenancy includes a right of survivorship, such that upon the death of any joint tenant, the survivors succeed to the interest of the
