A tenancy in common is a popular way for co-owners to take title to a home. This way of vesting offers an alternative to joint tenancy, in which a home is co-owned, but the owners split their interest evenly. Here, we talk about what a tenancy in common is, and why its allowance for co-owning in unequal shares can be a benefit.Continue reading “Owning Property in Unequal Shares, as Tenants in Common”
When two married people own real estate together, how do their rights work? Here, we walk though the most basic questions about couples and their homes.Continue reading “Marriage and Real Estate: A Brief Tour”
In estate planning, wills and trusts aren’t everything.
Homeowners who want to be sure the home passes to the desired beneficiary must be sure the property is correctly vested.
Consider a common example. If you co-own property with a right of survivorship, your interest cannot be willed to any other party. The person who survives automatically acquires rights in your interest.
Here, we review this and other consequences of the vesting of real estate.Continue reading “How’s Your Property Vested? It Matters as Much as Your Will or Trust”
Trusts and limited liability companies, or LLCs, can hold real estate for tax advantages or avoidance of the probate process. Some homeowners work in high-risk careers or own their businesses, and wish to keep the home from becoming vulnerable to lawsuits.
Here, we briefly summarize key options.Continue reading “Holding Real Estate in a Trust-Or an LLC”
Title vesting is the way an owner (or owners) of property takes title to their real estate. The way that title is held will affect what the owner (or owners) can do with the property during his or her lifetime, and will also determine whether or not the property has to go through probate proceedings upon the owner’s death.
When a deed is written for real property, the ownership is described using the owner’s name and a descriptive phrase for the legal relationship between multiple owners or married people. Vesting decisions will vary from state to state.Continue reading “Types of Vesting Related to Real Estate Ownership”
The Nevada statutes identify three primary ways for two or more people to hold title to real property: tenancy in common, community property, and joint tenancy (NRS §§ 111.060, 111.063-065).Continue reading “Vesting options for Co-Ownership of Nevada Real Estate”