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Vesting
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Title to real property in California may be held by individuals, either in Sole Ownership or in Co-Ownership. Co-Ownership of real property occurs when title is held by two or more persons. There are several variations as to how title may be held in each type of ownership. The following brief summaries reference eight of the more common examples of sole ownership and co-ownership.
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Sole Ownership
- A Single Man/Woman
A single or unmarried man or woman
Example: John Doe, an unmarried man
- A Divorced Man/Woman
A man or woman, having been legally divorced
Example: Jane Doe, an unmarried woman
- A Married Man/Woman, as His/Her Sole & Separate Property
When a married man or woman wishes to acquire title as his/her sole and separate property, the spouse must consent and relinquish all right, title and interest in the property by deed or other written agreement
Example: John Doe, a married man, as his sole and separate property
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Co-Ownership
- Community Property
Property acquired by a married couple, or either spouse during marriage, otherwise than by gift, bequest, devise, descent or as the separate property of either, is presumed community property
Example: John Doe and Mary Roe-Doe, husband and wife, as community property
Example: James Doe and George Roe, a married couple
Example: Jane Doe, a married woman
- Tenancy in Common
Under tenancy in common, the co-owners own undivided interests, but unlike joint tenancy, there is no Right of Survivorship; each tenant owns an interest which on his or her death vests in his or her heirs or devisee
Example: John Doe, a single man as to an undivided 1/4th interest as tenants in common
- Community Property with Right of Survivorship
Community property acquired by a married couple 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
- Joint Tenancy
Joint and equal interest in land owned by two or more individuals created under a single instrument with Right of Survivorship
Example: John Doe and Mary Doe, husband and wife, as joint tenants
- Trust
Title to real property in California may be held in trust. The trustee of the trust holds title pursuant to the terms of the trust for the benefit of the trustor/beneficiary
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