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School Reports in Wilmington, Wrightsville Beach, Hampstead and Carolina Beach, North Carolina

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Titles >Ways to Hold Title

When two or more people purchase property together, there are three ways that the title can be held. Knowing the implications of each form of ownership will help you decide how to write your deed.

"Tenancy by the entireties" is reserved exclusively for married people. Both husband and wife own an undivided interest in the property. On the death of one party, the surviving spouse owns the entire property and no probate will be necessary. When unmarried persons buy a home together, they should seek legal advice regarding how title should be held. As "tenants in common" each party owns a percentage interest in the property. On the death of one party his or her interest does not go to the surviving owner but is distributed in accordance with the will of the deceased, whose estate must be probated. As "joint tenants" each party owns an undivided, equal interest that passes automatically to the surviving joint tenant. Probate is not necessary if the deed reads "joint tenants with rights of survivorship".

It is important to know that in most courts, if a deed is written without specification of how title is held, the property is titled as "tenants in common."

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Q	What is the earliest residential building that remains in Manhattan?
A	Fraunces Tavern, built in 1719, is where George Washington delivered his Farewell Address to his officers in 1783.
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Margery Jordan, REALTORŽ, real estate agent and broker for Wilmington, Wrightsville Beach, Hampstead and Carolina Beach, North Carolina home listings, property and land for sale

Margery Jordan
Intracoastal Realty
1900 East Wood Rd Suite 38
Wilmington, NC 28403
Mobile: 910-619-7414
Direct: 910-509-7414
Toll Free: 800-533-1840
Fax: 910-256-4248
margery@margeryjordan.com
My real estate philosophy is different from other realtors. I focus 100% of my efforts on providing the most qualified, economical, and satisfying service to each client. I pay extra attention to the details and work to solve any issues in a discreet fashion, making each closing a pleasure for my clients. My expertise, determination, and integrity make me the only choice for your realtor!

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Real estate agent(s) for Wilmington, Wrightsville Beach, Hampstead and Carolina Beach, North Carolina

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