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Common Ways

to Hold Title

How should I take ownership of the property I am buying? Co-Ownership-Title to property owned by two or more persons may
be vested in the following forms:
The form of ownership taken (the vesting of title) will determine who
may sign various documents involving the property and future rights of 1. Community Property: A form of vesting title to property owned
the parties to the transaction. These rights involve such matters as: real together by married persons. Community property is distinguished
property taxes, income taxes, inheritance and gift taxes, transferability of from separate property, which is property acquired before marriage,
title and exposure to creditor’s claims. Also, how title is vested can have by separate gift or bequest, after legal separation, or which is agreed
significant probate implications in the event of death. in writing to be owned by one spouse.
Buyers may wish to consult legal counsel to determine the most In California, real property conveyed to a married person, is presumed
advantageous form of ownership for their particular situation, to be community property, unless otherwise stated (i.e. property
especially in cases of multiple owners of a single property. acquired as separate property by gift, bequest or agreement). Since all
such property is owned equally, both parties must sign all agreements
Following is a brief list of common ways to hold title: and documents transferring the property or using it as security for a
loan. Each owner has the right to dispose of his/her one half of the
Sole Ownership- Sole ownership may be described as ownership by community property, by will. For example: Bruce Buyer and Barbara
an individual or other entity capable of acquiring title. Examples of Buyer, husband and wife, as community property or Sally Smith and
common vesting cases of sole ownership are: Jane Smith, spouses, as community property.

1. A Single Man/Woman: A man or woman who is not legally married 2. Community Property with Right of Survivorship: A form of vesting
or in a domestic partnership. For example: Bruce Buyer, a single man. title to property owned together by spouses. This form of holding
title shares many of the characteristics of community property but
2. A Married Man, Woman as His/ Her Sole and Separate Property: adds the benefit of the right of survivorship similar to title held in joint
A married man or woman who wishes to acquire title in his or her tenancy. There may be tax benefits for holding title in this manner. On
name alone. the death of an owner, the decedent’s interest ends and the survivor

The title company insuring title will require the spouse of the married owns the property. For example: Bruce Buyer and Barbara Buyer,
man or woman acquiring title to specifically disclaim or relinquish his husband and wife, as community property with right of survivorship,
or her right, title and interest to the property. This establishes that both or John Buyer and Bill Buyer, spouses, as community property with
spouses want title to the property to be granted to one spouse as that right of survivorship.
spouse’s sole and separate property. For example: Bruce Buyer, a
married man, as his sole and separate property. 3. Joint Tenancy: A form of vesting title to property owned by two or
more persons, who may or may not be married, in equal interests,
subject to the right of survivorship in the surviving joint tenant(s). Title
must have been acquired at the same time, by the same conveyance,
and the document must expressly declare the intention to create a
joint tenancy estate. When a joint tenant dies, title to the property
is automatically conveyed by operation of law to the surviving
joint tenant(s). Therefore, joint tenancy property is not subject to
disposition by will. For example: Bruce Buyer, a married man and
George Buyer, a single man, as joint tenants.

Note: If a married person enters into a joint tenancy that does not
include their spouse, the title company insuring title may require the
spouse of the married man or woman acquiring title to specifically
consent to the joint tenancy.

07/2021 | © 2021 Old Republic Title | OR1688-DI-CA-V1 | Old Republic Title is
providing this information as a free customer service and makes no warranties or
representations as to its accuracy.
Old Republic Title strongly recommends that consumers confer with their title insurer
as underwriting requirements vary among companies and further, obtain guidance and
advice from qualified professionals, including attorneys specializing in Real Property,
Trusts and/or Title Insurance to get more detailed, and current, information as to any
particular situation affecting them.