Did you realize that when you bought your home, you were asked how you wanted to hold title? Did you understand the tax and legal ramifications of all your options before deciding what kind of title you wanted to hold on your purchase? The common ways to hold title in California are:
1. Sole Ownership
2. Joint Tenancy
3. Tenancy in Common
4. Community Property
5. Community Property With Right of Survivorship – Recommended for married couples or registered domestic partners.
6. LLC/Corporation
7. Partnership
8. Trust
If you or someone you know who owns a house are interested in knowing more, please call me and I will send you the attorney’s definition and examples of each classification.
