There are several ways to hold title and each depends on certain circumstances of the Buyer(s). Below is a brief summary of how a buyer or buyers can hold title to property. This information is not intended to be legal advice and each circumstance is unique. We can assist you in making your final determination prior to settlement if you have any questions. Sole ownership - If you are single, one way to hold title to your home is in your name and own 100% of the property Tenants in Common - When two or more co-owners take title to real estate, especially if they are not married to each other, they often become tenants in common. For example, two realty investors might select this method. Each tenant in common owns a specified interest in the property. Each tenant in common can sell or pass his/her interest by will to whomever he or she wishes. The ownership split need not be equal. For example, one owner might own a 50% interest, another could own a 10% interest and a third tenant in common could own a 40% share. The percentage ownership is specified on the deed. Joint tenancy with right of survivorship - When title is held in joint tenancy with right of survivorship, all co-owners must take title at the same time; they own equal shares and the surviving co-owner winds up owning the entire property. After a joint tenant dies, the surviving joint tenant(s) receives the deceased's share. The deceased's will has no effect on joint tenancy property. Tenants by the Entirety – This tenancy has the same rights and obligations as joint tenancy above, but is only afforded to married couples as defined in various states. Trust Ownership- If a buyer has a revocable trust, they may place their property in trust with the Trustee. This type of ownership may avoid tax and probate complications. Please consult your estate planning and tax advisers before determining if you would pursue this type of tenancy. Buyers should check with their lender for terms and conditions set by the lender