Commons Ways to Hold Title

 

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 the 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 8 of the more common examples of Sole Ownership and Co-Ownership.

 

(1)   A Single Man/Woman – A man or woman who is not legally married. Example, John Doe, a single man.

(2)   An Unmarried Man/Woman – A man or woman, who having been married is legally divorced or, a man or woman, having been in a registered domestic partnership that has been legally dissolved. Example: John Doe, an unmarried man.

(3)   A Married Man, Woman, or Registered Domestic Partner, As his/her Sole and Separate Property – When a married man, woman or a registered domestic partner wishes to acquire title in his or her name alone, the spouse/partner must consent, by quitclaim deed or otherwise, to transfer thereby relinquishing all right, title and interest in the property. Example: John Doe, a domestic partner, as his sold and separate property.

(4)   Community Property – The California Civil Code defines community property as property acquired by husband and wife, or by either. Real property conveyed to a married man or woman is presumed to be community property, unless otherwise stated. Under community property, both spouses have the right to dispose of one-half of the community property. If a spouse does not exercise his/her right to dispose of one-half to someone other than his/her spouse, then the one-half will go to the surviving spouse without administration. If a spouse exercises his/her right to dispose of one-half, that half is subject to administration in the estate. Example: John Doe & Mary Doe, husband and wife as community property. Registered domestic partners shall have the same rights and protections

(5)   Joint Tenancy – A joint tenancy estate is defined in the Civil Code as follows: A joint interest is owned by two or more persons in equal shares, by title created by a single will or transfer, when expressly declared in the will or transfer to be joint tenancy. A chief characteristic of joint tenancy property is the right of survivorship. When a joint tenant dies, title to the property immediately vests in the surviving joint tenant(s). As a consequence, joint tenancy property is not subject to disposition by will. Example: John Does and Joe Smith, registered domestic partners, as joint tenants.

(6)   Tenancy in Common – Under tenancy in common, the co-owners own undivided interests; but unlike joint tenancy, these interests need not be equal in quantity or duration, and may arise at different times. There is no right of survivorship: each tenant owns an interest which, on his or her death, vests in his or her heirs or devisees. Example: John Doe, a single man, as to an undivided 3/4 interest, and George Smith, a single man, as to an undivided 1/4 interest, as tenants in common.

(7)   Trust – Tile to real property in California may be held in a title holding trust. The trust holds legal and equitable title to the real estate. The trustee holds title for the trustor/beneficiary who retains all of the management rights and responsibilities. This is the most common way to hold title for homeowners in Leisure Village.

(8)   Community Property With Right of Survivorship – Community Property of a husband and wife, when expressly declared in the transfer document to be community property with the right of survivorship, and which may be accepted in writing on the face of the document by a statement signed or initialed by the grantees, shall, upon the deal of one of the spouses, pass to the survivor, without administration, subject to the same procedures as property held in joint tenancy. Registered domestic partners shall have the same rights and protections.

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Your Grove (Mother/Daughter) Real Estate Team

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David Silver
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Meryll Russell and Sharron Parker helped sell my mom’s gorgeous home in the exclusive Grove retirement community in Camarillo, and the experience was fantastic. They marketed the home expertly across multiple websites, including their own, which is full of helpful information about the Grove. They hired a professional photographer with drone shots, ensuring the home looked its absolute best. With great communication throughout, they guided us through negotiations and sold the home for a fair price, in just two weeks! We highly recommend this mother-daughter team to anyone looking to buy or sell in the Grove!
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Raquel Genel
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I would highly recommend working with Meryll and Sharron when considering a realtor especially in the Ventura County area. I was downsizing from a home in Thousand Oaks to the new community in Camarillo called the Grove. Meryll worked her magic and negotiated the sale of my home and the purchase of the new one all within a few weeks of each other. She is a delight to work with and a true professional with the highest integrity and extensive experience!
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Beth Naumann
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Meryll Russell and Sharron Parker were the perfect team to help a family member with a significant move. Meryll was patient and went out of her way to assure my mother-in-law understood every step of the transaction to purchase her beautiful new home at The Grove. Meryll’s attention to detail and calm reassurance was just what was needed to make a potentially stressful move a smooth process. Additionally, she was able to provide top notch referrals when needed. We are so grateful for this amazing team of professionals. Thank you, Meryll and Sharron!
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 Meryll Russell

Meryll Russell

Realtor - Broker

MJH Properties

805-405-0411

meryllrussell@hotmail.com

CAL DRE 01435748

Meryll has been a Realtor since 2004 and got her Broker’s license in 2019. She has sold hundreds of homes all over Southern California. Meryll received her Bachelor of Science in Business Administration with an emphasis in Marketing from USC. She loves handling the internet marketing & social media aspects of our business. Her first job out of college was working for IBM selling personal computers. She has over 24+ years of sales and negotiation experience.

Sharron Parker

Sharron Parker

Realtor - SRES (Seniors Real Estate Specialist)

MJH Properties

805-443-1998

sharronbparker@aol.com

CAL DRE 00900167

Sharron has sold over 1000 homes in her real estate career. She is passionate about helping people with the purchase or sale of their home, and is an EXPERT IN NEGOTIATION. Pride and professionalism are words that are often used to describe Sharron. She is one of those diligent, hard workers who always answers her phone, and returns calls and emails promptly. She is truly grateful for all the referrals she receives from her clients and friends.

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