Title Consumer Series: Common Ways of Holding Title

How Should I take ownership of the property I am buying?

This important question is one California real property purchasers ask their real estate, escrow and title professionals every day. Unfortunately, though these professionals may identify the many methods of owning property, they may not recommend a specific form of ownership, as doing so would constitute practicing law.

Because real property is among the most valuable of assets, the question of how parties take ownership of their property is of great importance. 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.

The California Land Title Association (CLTA) advises those purchasing real property to give careful consideration to the manner in which title will be held. 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.

The CLTA has provided a website with definitions of common vestings as an informational overview only. Consumers should not rely on these as legal definitions. The Association urges real property purchasers to carefully consider their titling decision prior to closing, and to seek counsel should they be unfamiliar with the most suitable ownership choice for their particular situation.

Note: Under current law, California recognizes same sex relationships that are legally performed or entered into in California and in other states and other countries. This recognition includes same sex marriages and other types of legal unions that are similar to registered domestic partnership status.

Although CLTA will use the title “registered domestic partner” in examples, the term “domestic partnership” will be used to include both California registered domestic partnerships and all non-marital legal unions that are recognized in California (i.e. Civil Unions, etc.). 1
* Title Information provided by the California Land Title Association, Fidelity National Title, First American Title, Title365 and other sources. http://www.clta.org/for-consumers/consumer-holdingtitle.html

Click Here for Common Methods of Holding Title Chart

Indian Springs Golf Club Real Estate | Buyers | Sellers | Properties | Rentals - Leasing | About | What's My Home Worth? | Buyers Request | Area Info | Mortgage Information | Testimonials | Free Real Estate Reports | Sellers Request | Dream Home Finder | Community Links | School Links | Request Info | Helpful Links | Weather | Home Buying Info | 15 Reasons Why I Should Be Your Real Estate Agent | Additional Real Estate Info | Different Types Of Real Estate Home Loans | For Sale By Owner Real Estate Info | Free E-mail Property Updates | Free Market Update | General Request | Home Gardening Info | Home Moving Assistance | How Much Real Estate Can You Afford? | Just For Kids | My Real Estate Link Partners | Real Estate And Mortgage Glossary | Real Estate Mortgage Programs | Real Estate Refinancing Information | Real Estate Tax Info | Selecting Your Next Home | Why Select Us To Help You Sell Real Estate? | Why Select Me To Represent You When Buying Your Next Home? | Real Estate Mortgage Calculators | Sign-Up | Advanced MLS search | Property Search (California RETS - Rental) | Property Search (California RETS - Mobile Home) | Property Search (California RETS - Land/Lot) | Property Search (California RETS - Residential Income) | Property Search (CARETS Sold - Residential Sold) | Property Search (CARETS Sold - Rental Sold) | Property Search (CARETS Sold - Mobile Home Sold) | Property Search (CARETS Sold - Land/Lot Sold) | Property Search (CARETS Sold - Residential Income Sold) | Property Search (CARETS Commercial - Commercial) | Property Search (CARETS Commercial - Commercial Lease) | Our Listings | Desert Area MLS Search | Listings by Community | Indian Springs Vacation Homes for Rent | Indian Springs Floor Plans | Venice | Balboa | Manhattan | Newport I & II | Laguna | Monterey | Carmel | Malibu | Cambria | Coronado | La Jolla | REO/Bank Sales | Desert Area Attractions Page | Seller Login | 2013 Indian Springs Sales Report | Indian Springs Homes For Sale | The Citrus | Mountain View CC | PGA West | PGA West Stadium | PGA West Palmer | PGA West Homes For Sale | Hideaway Golf Club | Madison Club | PGA West Home Search | Andalusia Golf Club | Trilogy La Quinta | Suncity Shadow Hills | Chris Casas Bio | Indian Springs Real Estate | Indian Springs Infomercial | Indian Springs Resales | Indian Springs G&CC | Indian Springs G&CC | Property Search (California RETS - Residential) | Property Search (Desert Area - Residential) | Property Search (Desert Area - Rental) | Property Search (Desert Area - Residential Income) | Property Search (Desert Area - Mobile) | Property Search (Desert Area - Land) | Videos | Indian Springs Color Schemes | Foreign Seller Tax Withholding | Methods of Title | Indian Springs Golf Club | The Big Rock Pub | 2016 Indian Springs Annual Sales Report | Privacy Policy | Open House Registration | 45889 Meadow Lake Drive | 3D Virtual Tours by Indian Springs Real Estate | Indian Springs Community Documents
Site Map | E-Mail

Logo
Indian Springs Real Estate
79-940 Westward Ho Drive • Indio, CA 92201
Office: (760) 537-0346 • Toll Free: (800) 913-ISRE (4742)
Fax: (760) 300-3235
Cal BRE License Numbers: 01320583 & 01349957


La QuintaPalm SpringsPalm Desert