Services Title Resources Taking a Title
How to Take Title
Here you will find one method of taking a title. There are several scenarios that play into taking a title. These in some of the common answers.
Parties
Any number of persons (can be husband and wife, but see "Presumption" limitations below)
Division
Ownership can be divided into any number of interests equal or unequal.
Title
Each co-owner has a separate legal title to his undivided interest.
Possession
Equal right of possession (only unity of interest required).
Conveyance
Each co-owner's interest may be conveyed separately by its owner. Tenancy in common dissolved by conveyance of co-tenant interest to another new tenancy in common is created between grantees and remaining co-tenants.
Purchaser's Status
Purchaser will become a tenant in common with the other co-owners in the property.
Death
On co-owner's death, his interest passes by will to his devises or his heirs by intestate succession. No survivorship right.
Successor's Status
Devisees or heirs become tenants in common.
Creditor's Status
Co-owners's interest may be sold on execution sale to satisfy his creditor. Creditor becomes a tenant in common with remaining co-tenants. Termination may occur as a result of involuntary sale (e.g., execution sale under a judgment or a foreclose sale under a mortgage or deed of trust).
