05/18/2021
“What's in a name?” asked William Shakespeare in the late 1500s.
That question was about love and heartbreak.
In 2021, not only could your heart be broken, but your bank account too, if your name is not properly listed on the title of your home or property.
Most Common Scenarios
Married or Unmarried Couples
Siblings
Business Partners
Most Common Types of Ownership
Sole Ownership
Joint Tenancy
Tenants-in-Common
Sole Ownership
Title is held in one name only
Very common among senior homeowners
Beneficial if one partner is self-employed or had credit issues
Joint Tenancy
The most common way for couples or spouses to hold ownership
Between two or more parties
Each owner has an equal right to the property
Tenants-in-Common
Each owner owns a specific percentage of the property
Equal rights & access for each owner
Individual ownership protection
Make the Write Choice
Get it in writing
Consult an expert
Reassess, Review, Revise
Source:CTVNews