Safest Way to Title Land
- 1). Determine the owners of the property. The owners listed on the title will be the only individuals with the power to transfer ownership of the property and will have legal responsibilities for the property, including paying property taxes. If you are married, you should consider whether both spouses want to hold title to the property, or just one spouse.
- 2). Consider holding the title as tenants in common, if there are multiple owners of the property. A tenancy in common means that all owners listed on title have the same rights and responsibilities as each other. This includes contributing to necessary repairs to the property and property taxes. This is a safe way to hold property because the title lists all owners of the property, and the owners are able to protect their interests.
- 3). Title the property taking into account any future use of the property. For example, if you want to keep the property in the family following your death, you may want to title the property as a joint tenancy with a family member listed on the title as the other joint tenant. Upon one joint tenant's death, the property will transfer to the other joint tenancy without the probate court. The other joint tenant then owns the property completely.
- 4). Transfer title to reflect any necessary changes. You can change ownership of title at any time except into a joint tenancy, by filing a transfer of title in the county recorder's office. This may be necessary upon a divorce, or if an investor wants to sell her share of the property.
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