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Common Ways of Holding Title

Sole ownership

Sole ownership is characterized by ownership from an individual or other entity eligible to acquire title. These include a single man/woman, unmarried man/woman, or married man/woman choosing to hold title as their sole property.

Co-Ownership

Co-ownership describes ownership from two or more persons. They can be represented by the following forms: community property, joint tenancy, and tenancy in common. Joint tenancy is established when two or more persons are subject to the right of survivorship in the joint tenant. Community property is a form of vesting title owned by husband and wife during marriage. It is distinct from property acquired before marriage or bequest after separation. Tenancy in common is the vesting title for property owned by two or more individuals with an interest in it. Each of the tenants are entitled to a share of the property, including expenses and expenses. They can also sell or lease their share of the property.

Corporation

A corporate is established by state law as legal entity consisting of multiple shareholders. Under law, the corporation is recognized as a separate entity from the shareholders.

Partnership

A partnership is formed by two or more persons who choose to operate for profit as co-owners. Title to real property can be held under the name of a partnership.