Tenants In Common

Tenants in common is a type of ownership in which two or more parties have an undivided interest in the property. With tenants in common, the owners may or may not have equal shares of ownership, and there are no rights of survivorship. However, each owner retains the right to sell his or her share in the property as he or she sees fit with tenants in common ownership.

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Transferring Ownership Of Home Between Family Members

Transferring home ownership between family members can be problematic. Often, family members help each other out with a signature or by putting their name on the mortgage. However, you need to consider more than just a quit claim deed to transfer a title. Who is responsible for mortgage payments? Whose credit score will be affected by thy home loan? What happens if someone passes away? Who will inherit the property?

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