Page 9 - Home Buyers and Sellers Handbook English - California

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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