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Utilizing a revocable trust is the best way for a married couple to take title. Titling property in your trust avoids probate upon the death of both the initial and surviving spouses and preserves the capital gains step up for the entire property on the first death.
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.
Tenancy by the entirety refers to a form of shared property ownership that is reserved only for married couples. A tenancy by the entirety permits spouses to jointly own property as a single legal entity. This means that each spouse has an equal and undivided interest in the property.
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.
A tenancy by the entirety is a common way for married couples to hold property and have it easily pass from one spouse to the other upon one spouses death. South Carolina doesnt recognize tenancies by the entirety, but there are planning steps you can take to get the same effect.
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Under the modern common law in South Carolina, a tenancy in common is the favored form of joint ownership.
Married couples in South Carolina most commonly own property together as joint tenants with rights of survivorship.
Utilizing a revocable trust is the best way for a married couple to take title. Titling property in your trust avoids probate upon the death of both the initial and surviving spouses and preserves the capital gains step up for the entire property on the first death.
The chief distinction between joint tenancy and tenancy in common is that joint tenancy creates a right of survivorship. A joint tenants share of the property passes to the other joint tenant(s) upon death. As such, joint tenants cannot leave their portion of the property to a third party in their Will.
A tenancy by the entirety is a common way for married couples to hold property and have it easily pass from one spouse to the other upon one spouses death. South Carolina doesnt recognize tenancies by the entirety, but there are planning steps you can take to get the same effect.

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