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There are different types of real property ownership in California mainly
divided into sole ownership and co-ownership. There are several variations
as to how title is held in each type of ownership. Following are the seven
most common examples of sole and co-ownerships:
Sole-Ownership
1. Single
woman or man who are not legally married.
2. An
Unmarried woman or man: A woman or man that have been married and is
currently divorced.
3. A married
woman or man as her or his sole and separate property: when a married woman
or man interested in gaining ownership of a property, in their name alone,
they must receive their spouse's consent by Quit Claim Deed or otherwise to
transfer, thereby relinquishing all rights, title and interest in the
property.
Co-Ownership
4. Joint
Tenancy: Is one owned by two or more persons in equal shares, by a title
created by a single will or transfer, when expressly declared in the will or
transfer to be a joint tenancy. A chief characteristic of joint tenancy
property is the right of survivorship. When a joint tenant passes away,
title to the property immediately vests in the survivor or surviving joint
tenants. As a consequence, joint tenancy property isn't subject to
disposition by will.
5. Tenancy in
Common: Under tenancy in common, co-owners own undivided interests. Unlike
joint tenancy in this type of co-ownership the interests need not be equal
in quantity or duration. There is no right of survivorship; each tenant owns
an interest that upon his/her death is vested to the legal heirs or
devisees.
6. Community
Property: is one acquired by husband and wife or either during marriage.
Real property conveyed to a married man or woman is presumed to be community
property, unless otherwise stated. Under community property, both spouses
have the right by will, to dispose of one half of the community property,
but all of it will go to the surviving spouse without a will. If spouse
exercises his or her right to dispose of one-half, that half is subject to
administration in the estate.
7. Community
Property with Right of Survivorship: (Effective July 1st, 2001). Community
property acquired by husband and wife, when expressly declared in the
transfer document to be "community property with right of survivorship,"
shall pass to the surviving spouse without having to first pass through the
administration of the estate.
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