Page 19 - Homeowners Manual - Alameda County

Other Ways of Vesting Title include as:

1� A Corporation*: A corporation is a legal entity, created under state law, consisting of one or more
shareholders but regarded under law as having an existence and personality separate from such
shareholders�

2� A Partnership*: A partnership is an association of two or more persons who can carry on business for profit
as co-owners, as governed by the Uniform Partnership Act� A partnership may hold title to real property in
the name of the partnership�

3� Trustees of a Trust*: A Trust is an arrangement whereby legal title to property is transferred by the grantor
to a person called a trustee, to be held and managed by that person for the benefit of the people specified
in the trust agreement, called the beneficiaries� A trust is generally not an entity that can hold title in its own
name� Instead title is often vested in the trustee of the trust� For example: Bruce Buyer trustee of the Buyer
Family Trust�

4� Limited Liability Companies (LLC)*: This form of ownership is a legal entity and is similar to both the
corporation and the partnership� The operating agreement will determine how the LLC functions and is
taxed� Like the corporation its existence is separate from its owners�

*In cases of corporate, partnership, LLC or trust ownership - required documents may include corporate articles
and bylaws, partnership agreements, LLC operating agreements and trust agreements and/or certificates�

Reprinted with permission from clta�org�

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