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COMMON WAYS TO TAKE TITLE IN CALIFORNIA




 
TENANCY IN COMMON
 JOINT TENANCY COMMUNITY
PROPERTY		 COMMUNITY PROPERTY WITH RIGHT OF SURVIVORSHIP
Numbers of parties taking title
Two or more persons (May be husband and wife)
Two or more persons (May be husband and wife)
Husband and wife only
Husband and wife only
Creation
One or more convey ances (Law presumes interests are equal if not otherwise specified)
Single convey ance (Creating identical interests)

Vesting must specify joint tenancy or law presumes tenancy in common
Single convey ance or presumption from marriage
Single convey ance and parties must indicate consent which can be indicated on deed
Possession and control of the property
Equal
Equal
Equal
Equal
Transferability
Each co-owner may transfer or mortgage their respective interest separately
Each co-owner may transfer their interest separately but tenancy in common results
Both spouses must consent to transfer or mortgage
Both spouses must consent to transfer or mortgage
Liens against one owner
Co-owner's interest not subject to liens of other debtor/pwner but forced sale can occur
Co-owner interest not subject to liens of other debtor/owner but forced sale can occur if prior to the debtor's death
Entire property subject to forced sale to satisfy debt of either spouse
Entire property subject to forced sale to satisfy debt of either spouse
Death of co-owner
Decedent's interest passes to his/her heirs by will or interstate
Decedent's interest automatically passes to surviving joint tenant ("Right of Survivorship")
Deceased's interest passes to spouse, except 1/2 of said interest may pass to devisee by decedent's will
Decedent's interest automatically passes to surviving spouse duet to right of survivorship
Advantages or disadvantages
Co-owner interests are separately transferable
Right of survivorship (Avoids probate)
Qualified survivorship rights.

Mutual consent required for transfer. Surviving spouse may have tax advantage
Right of survivorship (Avoids probate)

Mutual consent required for transfer. Surviving spouse may have tax advantage
















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