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School Reports in San Antonio, Alamo Heights and Spring Branch, Texas

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Schools in San Antonio, Alamo Heights and Spring Branch

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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Q	What real estate term was first used in the 19th century and means "a high-flying flag on a ship"?
A	Skyscraper was first used in the 1880s when office buildings of 10 stories or more were built in Chicago and New York.
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The Heart of Texas Realty, REALTOR®, real estate agents and broker for San Antonio, Alamo Heights and Spring Branch Texas home listings, property and land for sale - NUMBER1EXPERT(tm)

John Thurman, ABR, GRI, CRS
Heart of Texas Realty
13810 Bluff Lane
San Antonio, TX 78216
Phone #: (210) 481-6767
Fax #: (210) 496-2354
John@HeartofTexasRealty.com
John Thurman, ABR, GRI, CRS, is the Broker/Owner of Heart of Texas Realty and Talk Show Host of the Real Estate Focus Show on News-Talk 930 KLUP. He specializes in assisting families’ relocate either across the country or across the street. He is the Charter President of the Rotary Club of San Antonio at The Dominion, Founder and Chairman of Gateway San Antonio Corridor, Inc, and Founder of the First Voice Networking For Realtors in San Antonio.

San Antonio’s Most Listened To Realtor and Host, Real Estate Focus Talk Show on News-Talk 930 KLUP.

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