Page 9 - Home Buyers and Sellers Handbook English - California
P. 9

CALIFORNIA CO-OWNERSHIP INTERESTS

                                COMMUNITY   PROPERTY  JOINT   TENANCY  TENANCY IN   COMMON  COMMUNITY   PROPERTY   RIGHT OF   SURVIVORSHIP  PARTNERSHIPS  TRUSTS








         PARTIES         Married persons or   Two or more persons  Two or more persons or   Married persons or
                         domestic partners                entities         domestic partners

         DIVISION        Ownership interests are  Undivided equal shares   Equal or unequal shares  Ownership interests are
                         equal            in the entire property  in the entire property  equal

                         Title is in the                  Each co-owner has title   Title is in the
         TITLE           “community” - each   Title is to the entire   to his or her undivided   “community”-each
                                          property
                         interest is equal                interest         interest is equal
                                                          Equal right of possession
                                                          unless there is an
         POSSESSION      Equal right of possession Equal right of possession  Equal right of possession
                                                          agreement to the
                                                          contrary
                                          Co-owner’s interest may
                         Consent of the other   be conveyed without   Each co-owner’s interest
                         spouse or domestic   consent but conveyance  may be conveyed   Consent of other spouse
         CONVEYANCE      partner required except   by one co-owner without  separately without   or domestic partner
                         for the co-owner interest                         required
                         transferred upon death  the others terminates the  consent
                                          joint tenancy                                            Subject to the term of the partnership agreement  Subject to the terms of the trust
                                          Purchaser acquires
         PURCHASER’S     Purchaser acquires title   grantor(s) interest; if less  Purchaser acquires   Purchaser acquires title
         STATUS          of community     than all, joint tenancy is   grantor(s) interest  of community
                                          terminated
                         Upon co-owner’s death,           Upon co-owner’s death
         TRANSFER        1/2 belongs to survivor   Upon co-owner’s death   his or her interest passes   Upon co-owner’s death
                                          the entire tenancy
                                                                           the entire tenancy
         UPON DEATH      and 1/2 transferred by will   belongs to the survivor  by will or intestate   belongs to the survivor
                         or intestate succession          succession
                         Heirs or devisees are            Heirs or devisees are   Surviving spouse or
         SUCCESSOR’S     tenants in common with  Last survivor owns   tenants in common with  domestic partner owns
         STATUS          surviving spouse or   property   other co-owners  property
                         domestic partner
                                          Co-owner’s interest may
                         Co-owner’s interest may   be sold at execution   Co-owner’s interest may  Co-owner’s interest may
         CREDITOR’S      be sold at execution   sale to satisfy creditor.   be sold at execution   be sold at execution
                                                          sale to satisfy creditor.
                                                                           sale to satisfy creditor.
                         sale to satisfy creditor.
         RIGHTS                           Joint tenancy is broken.
                         Purchaser becomes   Purchaser becomes   Purchaser becomes   Purchaser becomes
                         tenant in common.                tenant in common  tenant in common.
                                          tenant in common.

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