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The 'Mr. Real Estate' Team, REALTOR®, real estate agents and broker for Anchorage Alaska home listings, property and land for sale - NUMBER1EXPERT(tm)
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Real Estate Tips
Titles >Ways to Hold Title

When two or more people purchase property together, there are three ways that the title can be held. Knowing the implications of each form of ownership will help you decide how to write your deed.

"Tenancy by the entireties" is reserved exclusively for married people. Both husband and wife own an undivided interest in the property. On the death of one party, the surviving spouse owns the entire property and no probate will be necessary. When unmarried persons buy a home together, they should seek legal advice regarding how title should be held. As "tenants in common" each party owns a percentage interest in the property. On the death of one party his or her interest does not go to the surviving owner but is distributed in accordance with the will of the deceased, whose estate must be probated. As "joint tenants" each party owns an undivided, equal interest that passes automatically to the surviving joint tenant. Probate is not necessary if the deed reads "joint tenants with rights of survivorship".

It is important to know that in most courts, if a deed is written without specification of how title is held, the property is titled as "tenants in common."

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Real Estate Trivia
Q 
What was the first land designated by the US government as a National Park?

A 
Yellowstone was established "as a public park or pleasuring ground for the benefit and enjoyment of people" in March 1872.
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The 'Mr. Real Estate' Team, REALTOR®, real estate agents and broker for Anchorage Alaska home listings, property and land for sale - NUMBER1EXPERT(tm)

The 'Mr. Real Estate' Team
Dynamic Properties

3111 C Street Suite 100
Anchorage, AK 99503
Phone: 907-727-9379
Phone: 907-244-9379
Fax: 877-763-1701
Toll Free: 1-888-564-3030
Email: rodstone@NUMBER1EXPERT.com

Rod Stone, who has 25+years of real estate sales experience, heads up a team of real estate professional offering the following: Online Home Buyer’s Seminar...Online Home Seller’s Seminar…Seller/Buyer “Gold Service Action Warranty”…Time Tested systems…Free “Market Analysis”…Service that is Fast, Fair and Hassle Free, with the goal to close on time!

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