Title Vesting Schedule
This is provided for informational purposes only. Specific questions
for actual real property transactions should be directed to your
attorney or accountant.
| Tenants in Common | Joint Tenants | Community Property | |
| Parties | Any number of persons, can be husband and wife | Any number of persons, can be husband and wife | Can only be husband and wife |
| Division | Ownership can be divided into any number of interests | Ownership interest cannot be divided | Ownership interests are equal |
| Title | Each co-owner has a separate legal title to his undivided interest | There is only one title to the whole property | Title is in the community similar to title being in a partnership |
| Possession | Equal rights of possession | Equal rights of possession | Equal rights of possession |
| Conveyance | Each co-owner’s interests may be conveyed separately by its owner | Conveyance by the one co-owner without the other breaks the joint tenancy | Both co-owners must join in conveyance of real property. Separate interests cannot be conveyed |
|
Purchaser's Status | Purchaser becomes a tenant in common with the other co-owners | Purchaser becomes a tenant in common | Purchaser can only acquire whole title of community; cannot acquire a part of it |
| Death | On co-owner’s death, his interest passes by will to his devisees or heirs. No right of survivorship | On co-owner’s death, his interest ends and cannot be willed to his heirs Survivor owns the property by right of survivorship | On co-owner’s death, 1/2 goes to survivor in severalty. Up to 1/2 goes by will or succession to others (Consult attorney with specific questions.) |
|
Successor's Status |
Devisees of heirs become tenants in common | Last survivor owns property in severalty | If passing by will, tenancy in common between devisees and survivor results |
| Creditors | Co-owner’s interest may be sold on execution sale to satisfy his creditors. Creditor becomes a tenant in common | Co-owner’s interest may be sold on execution sale to satisfy his creditors. Joint tenancy is broken, creditor becomes a tenant in common | Co-owner’s interest cannot be seized and sold separately. The whole property may be sold to satisfy debts of either husband or wife, depending on the debt. (Consult attorney with specific questions) |
| Presumption | Favored in doubtful cases except husband and wife (see community property) | Must be expressly stated and properly formed | Strong presumption that property acquired by husband or wife in community |
Taking Title to Property Purchased at Public Auction
The following samples are provided as a guide to assist you in
determining how you want your property deeded. It is important to
decide how you want the title to be recorded before you register for
the public auction as records will not be changed once
submitted.
| John Doe and Jane Doe, as: |
Husband and Wife as
Joint Tenants |
| John Doe, as: |
a Married Man, as
Sole and Separate Property |
| Jane Doe, as: |
a Married Woman, as
Sole and Separate Property |
| John Doe and Jane Smith, as: |
a Single Man and a
Single Woman as Joint Tenants |
| John Doe and Tom Smith, as: |
a Single Man and a
Single Man as Joint Tenants |
|
John Doe, a Married Man,
as to an Undivided 1/2 Interest and Jane Smith, a Single Woman, as to an Undivided 1/2 Interest, as: |
Tenants in Common |
| John Doe, as Trustee of the: |
Jane Doe Living
Trust |
| Doe and Doe, as: |
a Partnership |
