Welcome! Here You Can Find Great Information on Woodinville, Snohomish and Bellevue, Washington Real Estate 

The way that you hold title to your property has legal, tax, and estate-planning consequences. Many buyers do not receive adequate professional advice on this important aspect of property ownership.

If you are purchasing property by yourself, you will be acquiring title by sole (or "separate") ownership, single ownership, or severalty ownership. The term "severalty" does not denote more than one person - it is a legal term meaning that sole ownership is severed from all other forms of ownership.

If you are purchasing property with others, the most common forms of co-ownership are tenancy in common, joint tenancy, and community property. Tenants in common can be created when two or more related or unrelated people hold title to a property either equally or unequally. Each individual has the right to do whatever he wishes with his interest in the property. For example, he can sell his interest, give it away, or will it to someone else.

Before you take title, you should seek advice from your tax advisor and an attorney, particularly if you are buying the property with another person.

	See All Tips In The "Titles" Category >
	See Complete Library Of Hundreds Of Tips In 30+ Categories >

www.AllAmericanRealty.com is brought to you by The All American Realty Team
NUMBER1EXPERT™ in real estate for Woodinville, Snohomish and Bellevue, Washington

Read The All American Realty Team's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge