Real Estate Titles

There are different types. Here's a guide

October 22, 2024 • Estimated Reading Time: 2 minutes

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  1. Marketable Title - Can be sold or transferred without any legal issues.

  2. Equitable Title - Grants the right to use and enjoy the property, but not full legal ownership.

  3. Legal Title - Full ownership of the property, including the right to sell.

  4. Joint Tenancy - Shared ownership where co-owners have equal rights and survivorship benefits.

  5. Tenancy in Common - Shared ownership without survivorship rights, allowing owners to pass their share to heirs.

  6. Tenancy by the Entirety - Similar to joint tenancy but only for married couples, offering survivorship benefits.

  7. Life Estate - Ownership for the duration of an individual's life, after which it passes to another party.

  8. Fee Simple - The most complete form of ownership, with unlimited duration and transferability.