Ways To Take Title and property info Flashcards
1
Q
Severalty
A
One person
2
Q
Joint tenants
A
Must have equal interest. Don’t have to be married. Right of survivorship. Pitt has to occur at the same time.
3
Q
Tenant in common
A
Unequal interest. No right of survivorship
4
Q
Tenants of entirety
A
Must be married. Right of survivorship. Need both signatures to sell.
5
Q
Community property
A
Equal percent after marriage. Must be married no right of survivorship.
6
Q
Sole and separate
A
What you had before marriage is separate. Inheritance can be kept separate during marriage if no commingle funds.
7
Q
Trust
A
Trustee takes over upon death of grantor.
