Vesting Information

Title vesting determines how ownership of a property is held and what happens to that ownership over time.

Sole Ownership

• Sole Ownership means one individual owns 100 percent of the property.
  This is common when only one person is purchasing or refinancing.
  Examples include Single Man, Single Woman, Married Man, Married Woman, or ownership listed as His or Her Sole and Separate Property.

Joint Tenancy

• Joint Tenancy means two or more people own the property together in equal shares.
  This option typically includes Right of Survivorship, meaning if one owner passes away, their share automatically transfers to the remaining owner(s).
  Common for married couples or partners.

Tenants in Common

• Tenants in Common allows two or more owners to hold property together, with equal or unequal ownership shares.
  Examples include Undivided One Half, One Third, or One Fourth interests.
  Each owner’s share may be passed through a will or estate plan.

Community Property

• Community Property applies in certain states and is available only to married couples.
  Each spouse owns an equal interest in the property.
  Some options include Community Property with Right of Survivorship, which allows ownership to pass directly to the surviving spouse.

Tenants by the Entirety

• Tenants by the Entirety is a form of ownership available to married couples in some states.
  Both spouses own the property as a single legal unit.
  This option includes Right of Survivorship and may offer creditor protections depending on state law.

Trust or Life Estate

• Ownership through a Living Trust or Life Estate is often used for estate planning.
  The trust or life estate defines who controls the property during life and how it transfers after death.
  This option is commonly selected with guidance from an attorney or estate planner.

Relationship Descriptions

• Some vesting options include relationship descriptions such as Husband and Wife, Spouse and Spouse, Husband and Husband, or Wife and Wife.
  These labels describe the relationship between owners but still rely on an underlying ownership structure such as Joint Tenancy, Tenants in Common, or Community Property.

Title vesting laws vary by state and personal situation. Your loan officer or title company can explain your options, but for legal or estate planning advice, consult a qualified attorney.