How Should I Take Title on My Property? With Melissa D’Ellena
Melissa D’Ellena from D’Ellena Law talks about the different ways to take title and what you should do depending on your relationship or situation. A few details from the video are outlined below. So, how should you take ownership to property? Melissa explains the recommended ways to do this, which are outlined below:
3 Ways to Take Ownership of a Property
1. Tenants in Common
Individuals have a 50% interest in the property. If anything happens to either person, the ownership passes down to someone- usually blood-related. This is often used in an investment context.
2. Joint Tenancy
Two persons own the property. If anything were to happen to either person, ownership would default to the joint owner.
3. Tenants by the Entirety
Joint tenants with some added protection. Reserved for legally married couples.
For More Information…
Melissa goes into much more detail regarding the different types of ownership in the video, so be sure to watch if you wish to gain a greater understanding!
For more information on D’Ellena Law and the services they provide, be sure to check out their website here: www.dellenalaw.com.