Types of Property Ownership

Sole Ownership

You own property individually. It must go through probate at death unless transferred to a trust.

Joint Tenancy with Right of Survivorship

Two or more owners each have equal interest. When one owner dies, their share automatically passes to surviving owners without probate.

Tenancy by the Entirety

Only for married couples. Similar to joint tenancy with added creditor protection. Property automatically passes to surviving spouse.

Tenancy in Common

Multiple owners each own a specific percentage. No automatic transfer at death - each owner's share goes through probate or trust.

Trust Ownership

Property is titled in the name of your trust, avoiding probate and allowing flexible distribution terms.