11/29/2025
When you get to the signing table, you may be inclined to rush through the paperwork just so you can get your keys and move in. Hopefully, you are working with an agent who has walked you through some of the decisions you will have to make prior to getting to the closing table, but in case they haven’t, this is for you.
The title agent will present you with a form titled “Ownership/Vesting Instructions.” These are the following options:
• Joint Tenancy with Rights of Survivorship
• Tenants in Common
• Sole Ownership
• Joint Tenancy (married)
• Community Property (in applicable states)
• Trust ownership, etc.
In Colorado, property owners that sign together sign as tenants in common by default. This means each person owns a separate, distinct fractional share of the property, which can be unequal and passes to their heirs upon death, not automatically to the other co-owner. For joint ownership, a couple must explicitly choose to be joint tenants, which includes a right of survivorship, by having the deed include that language. Guess which one individuals have to go through probate after their partner has passed? The individuals with Tenants in Common ownership.
This is one example of many selections that likely require a conversation between both individuals and potentially even your estate planning attorney to make sure that they are making the decision that makes sense for their family now and in the long run.