Homeowners should be careful about how they hold title to properties
The manner in which homeowners hold title to their properties has significant legal ramifications. Consequently, it’s not wise to leave this important decision to chance.
Escrow agents will ask how you would prefer the title to read. But often the question isn’t posed until you near the close of the sale, and by then it may be too late to give any real thought to your options.
With that in mind, here’s an overview of some of the more common forms of ownership:
* Tenancy by the entirety. In most cases, this is the correct way for married couples to hold title. In fact, it is available only to married couples.