Page 31 - Homeowners Manual - Marin County

Co-Ownership-Title to property owned by two or more persons may be vested in the following forms:

1� Community Property: A form of vesting title to property owned together by married persons or by domestic
partners� Community property is distinguished from separate property, which is property acquired before
marriage or before a domestic partnership by separate gift or bequest, after legal separation, or which is
agreed in writing to be owned by one spouse or domestic partner�
In California, real property conveyed to a married person, or to a domestic partner is presumed to be
community property, unless otherwise stated (i�e� property acquired as separate property by gift, bequest or
agreement)� Since all such property is owned equally, both parties must sign all agreements 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 community property by will� For example: Bruce Buyer and Barbara Buyer, husband and wife,
as community property, or Sally Smith and Jane Smith, registered domestic partners as community property.
Another example for same sex couples: Sally Smith and Jane Smith, who are married to each other, as
community property.

2� Community Property with Right of Survivorship: A form of vesting title to property owned together by
spouses or by domestic partners� This form of holding title shares many of the characteristics of community
property but adds the benefit of the right of survivorship similar to title held in joint tenancy� There may be
tax benefits for holding title in this manner� On the death of an owner, the decedent’s interest ends and the
survivor owns all interests in the property� For example: Bruce Buyer and Barbara Buyer, husband and wife,
as community property with right of survivorship, or John Buyer and Bill Buyer, husband and husband, as
community property with right of survivorship. Another example for same sex couples: Sally Smith and Jane
Smith, registered domestic partners, as community property with right of survivorship.

3� Joint Tenancy: A form of vesting title to property owned by two or more persons, who may or may not be
married or domestic partners, 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.

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