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| 650 Rosewood Court Los Altos, CA 94024 |
When couples purchase real property they have a number of methods in which they can hold title to such. The following are some of the more common methods for couples to own real estate collectively. Although couples can own real property through a business entity, such as a corporation or LLC, I omitted that section because the vast majority of couples do not purchase real property through a business entity.
Tenants in Common
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Joint Tenancy
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Community Property
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Community Property with Right of Survivorship
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Ownership Restriction
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No
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No
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Must be spouses or domestic partners
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Must be spouses or domestic partners
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How title may be held
(this is how the grantee's name might be stated on the deed)
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John Doe and Jane Doe, as tenants in common
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John Doe and Jane, husband and wife, as joint
tenants
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John Doe and Jane Doe, husband and wife, as their
community property
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John Doe and Jane Doe, husband and wife, as their
community property with right of survivorship
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May ownership interests be different
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Yes
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No, must be
50/50
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No, must be 50/50
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No, must be 50/50
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How title is transferred on death
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Probate
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Affidavit of death of a joint tenant
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Spousal probate petition
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Same as joint tenancy
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Notable advantage
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Interests need not be equal
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Avoids probate
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Entire property subject to stepped-up basis
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Avoids probate
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Notable disadvantage
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Subject to probate
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Lack of testamentary control
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Spousal probate petition
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Lack of testamentary control
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