Page 16 - Homeowners Manual - San Mateo County

COMMON WAYS OF HOLDING TITLE

How should I take ownership of the property I am buying?
The form of ownership taken (the vesting of title) will determine who may sign various documents involving the
property and future rights of the parties to the transaction� These rights involve such matters as: real property
taxes, income taxes, inheritance and gift taxes, transferability of title and exposure to creditor’s claims� Also, how
title is vested can have significant probate implications in the event of death�

Buyers may wish to consult legal counsel to determine the most advantageous form of ownership for their
particular situation, especially in cases of multiple owners of a single property.

Following is a brief list of common says to hold title:

Sole Ownership – Sole ownership may be described as ownership by an individual or other entity capable of
acquiring title� Examples of common vesting cases of sole ownership are:

1� A Single Man/Woman: A man or woman who is not legally married or in a domestic partnership� For
example: Bruce Buyer, a single man.

2� A Married Man, Woman as His/ Her Sole and Separate Property: A married man or woman who wishes
to acquire title in his or her name alone�

The title company insuring title will require the spouse of the married man or woman acquiring title to
specifically disclaim or relinquish his or her right, title and interest to the property� This establishes that both
spouses want title to the property to be granted to one spouse as that spouse’s sole and separate property�
For example: Bruce Buyer, a married man, as his sole and separate property.

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