Music, hey it's RJ Wenberg, VLC real estate guy. Today, I want to discuss six ways to hold title in California. When I mention "holding title", I'm referring to how you are recorded as an owner on the deed. The first way to hold title is as a sole owner. As a sole owner, you have complete authority to sell, transfer, and manage the property as you please. However, the main drawback is that when you pass away, the property will go through probate. Probate is the process by which the probate court distributes a person's estate after their death. It can be a lengthy and expensive process, so it is advisable to avoid it if possible. One way to avoid probate is by using a transfer-on-death designation. This is similar to sole ownership, but with a designated person on the deed who will automatically receive the property upon the owner's death. The third option is holding title as joint tenants. This is for multiple owners who own the property together. As joint tenants, each owner has equal ownership rights. Additionally, joint tenancy includes the right of survivorship. When one owner passes away, their ownership is automatically absorbed by the surviving owners, bypassing probate. This continues until there is only one owner left, who then holds the property as a sole owner. The fourth option is having a tenancy in common. This occurs when multiple people own a property together, but there is no right of survivorship. Each owner's ownership interest does not have to be equal. For example, one owner may own 10%, another 20%, and another 50%. When an owner in a tenancy in common passes away, their interest in the property is subject to their will or intestacy laws. The fifth type of vesting is community property,...
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Grant Deed california san bernardino county Form: What You Should Know
WITNESS my hand and official seal FORM: Grant Deed — Score.us Form: Grant Deed – Score.us I hereby acknowledge under the laws of the State of California that the following statement is true and correct. I also further acknowledge that the above statement is a true accurate and proper statement of my assumption, as recorded by the County Clerk's Office in the County of San Bernardino and that I have performed my assumption voluntarily, without cause or coercion. I am not an attorney. Form: Grant Deed – (Score.us) I hereby acknowledge under the laws of the State of California that the foregoing statement is true and correct. I also confirm that the above statement is a true accurate and proper statement of my assumption, as recorded by the County Clerk's Office in the County of San Bernardino and that I have performed my assumption voluntarily, without cause or coercion. I am not an attorney. I attest that I signed and received the Grant Deed (Score.us) as received from the City of San Bernardino. Form: Grant Deed — Score.
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