Even if only one of you takes out a loan to finance the purchase or uses separate money to invest or buy, you can both be legal owners, if that's what you want. Stock certificates and other documents showing how investments are held are prepared by investment brokers or the company in which you invest. Title documents for motor vehicles are prepared by your state motor vehicle department. The purpose of a title document is to show the type of ownership you have. In most states, there are three possible ways to jointly own and register property with title certificates.
Different states have different procedures.
If one owner dies, ownership and registration may be transferred to the survivor without going through a court probate proceeding. If she wants her lover to inherit her share, she must have a will or living trust so stating. If one person dies, ownership passes automatically to the survivor. In many states, creditors won't let the buyers put title in joint tenancy until the loan for the purchase is completely paid off. Joint tenancy requires both signatures to sell or give the property away.