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Joint Tenants versus Tenants in Common Most married couples tend to hold their property as joint tenants. However, this is not compulsory and married couples can opt to hold property as Tenants in Common if they wish.
The most recognized form for a married couple is to own their home as Tenants by the Entirety. A tenancy by the entirety is ownership in real estate under the fictional assumption that a husband and wife are considered one person for legal purposes. This method of ownership conveys the property to them as one person.
Cons. All tenants are equally liable for debts and property tax. It only takes one of the people involved to force the sale of the property. You dont automatically get the property rights of a fellow tenant when they die.
Special warranty deeds go by many names in different states, including covenant deed, grant deed, and limited warranty deed. The guarantee covers only the period when the seller held title to the property with a special warranty deed.
Spouses typically acquire title as tenants by the entireties, which only applies to spouses. Sometimes you will see a couple who acquired the property before marriage. In some states, a pre-marital joint tenancy automatically becomes tenants by the entireties upon marriage.
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The buyer, or grantee, of a property benefits the most from obtaining a warranty deed. Through the recording of a warranty deed, the seller is providing assurances to the buyer should anything unexpected happen.
Tenants in common are permitted to own varying shares of the property, but all co-owners have an equal right to enjoy the entire property. When a co-owner dies, his or her interest may be transferred through probate or other proceeding as the right of survivorship does not apply to a tenancy in common.
Spouses typically acquire title as tenants by the entireties, which only applies to spouses. Sometimes you will see a couple who acquired the property before marriage. In some states, a pre-marital joint tenancy automatically becomes tenants by the entireties upon marriage.
Estate Transactions In an estate transaction where the executor of estate has nothing attesting to the history of the property prior to the owner who has passed, a special warranty deed may be issued.
If property is to be used as a primary residence, I generally advise that title be vested in the individuals names. This provides the buyers homestead protection from judgment creditors, and also allows the buyers to take advantage of the real property tax benefits associated with the homestead.

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