• Home
    • Blog
    • Five Common Ways of Holding Title to Real Property in the State of Washington

    Five Common Ways of Holding Title to Real Property in the State of Washington

    • SINGLE INDIVIDUAL: a person who is not married or a registered domestic partner
    • SEPARATE PROPERTY: a person who is married or a registered domestic partner who holds title without a spouse or registered domestic partner – typically the non-participating spouse or registered domestic partner are required to execute a Quit Claim Deed in order to relinquish their possible interest in the property
    • COMMUNITY PROPERTY: the Revised Code of Washington (RCW 26.16.030) defines community property as property “Acquired after marriage or after registration of a state registered domestic partnership by either domestic partner; or either husband or wife; or both
    • TENANCY-IN-COMMON: Two or more people have interests (not as community property or joint tenants) in the property. The individual interests do not need to be equal, but the sum total of the interest must equal 100% (i.e. Fred Smith, an unmarried man, as to an undivided 73% interest, and Anne Jones, an unmarried woman, as to an undivided 27% interest) – the interests of each tenant-in-common passes to his or her heir(s) at law upon death
    • JOINT TENANCY: two or more people have equal interests in the property and the deed by which they take title must specify that the property is “held as joint tenants, with rights of survivorship” – unlike tenancies-in-common, when the owner dies, his or her ownership interests automatically passes on to the other co-owners

    Not this kind of title…

    Trackback from your site.

    Leave a Reply