Skip to main content

holding titleVesting, or how to hold title to real estate, is important for estate planning and tax reasons. Each state in the U.S. has its own vesting rules. When you purchasing real estate, you should consult with an accountant or tax attorney before the sale closes and the deed is recorded.  Disclaimer:  I am NOT a CPA, tax professional or attorney but as a real estate broker/agent in California can provide an overview of some of the options.

Title to real estate in California may be held by individuals, either insole Ownership or in Co-Ownership.  Co-Ownership of real property occurs when title is held by two or more persons.  There are several variations as to how title may be held in each type of ownership.  The following brief summary highlights eight of the more common examples of Sole Ownership and Co-Ownership.

Sole Ownership

1.  A Single Woman/Man:  A woman or man who is not legally married.  Example:  Jane Doe, a single woman.

2.  An Unmarried Woman/Man:  A woman or man, who having been married is legally divorced.  Example:  Jane Doe, an unmarried woman.

3.  A Married woman/Man, As Her/His sole and Separate Property:  When a marred man or woman wishes to acquire title in her or his name alone, the spouse must consent, by quitclaim deed or otherwise, to transfer thereby relinquishing all right, title and interest in the property.  Example:  Jane Doe, a married woman, as his sole and separate property.

Co-Ownership

4.  Community Property:  the California Civil code defines community property acquired by husband and wife, or by either.  Real property conveyed to a married woman or man is presumed to be community property unless otherwise stated.  Under community property, both spouse have the right to dispose of one half of the community property.  If a spouse does not exercise her/his right to dispose of one-half to someone other than her/his spouse, then one half will go to the surviving spouse.  If a spouse exercises her/his right to dispose one half, that half is subject to administration in the estate.  Example:  John Doe & Jane Doe, husband and wife.  Example:  Jane Doe, a married woman.

5.  Joint Tenancy:  a joint tenancy estate is defined in the Civil Code as follows “A joint interest is one owned by tow or more persons in equal shares, by a title created by a single will or transfer, when expressly declared in the will or transfer to be a joint tenancy.”  A major characteristic of joint tenancy property is the right of survivorship.  When a joint tenant dies, title to the property immediately vests in the surviving joint tenant(s).  As a consequence, join tenancy property is not subject to deposition by will.  Example:  John Doe and Jane Doe, husband and wife as joint tenants.

6.  Tenancy In Common:  Under tenancy in common, the co-owners own undivided interests, but unlike joint tenancy, these interests need not be equal in quantity or duration, and may arise at different times.  There is no right of survivorship; each tenant owns an interest which, on his or her death, vests in his or her heirs.  Example:  John does, a single man, as to an undivided 1/3 interest, and Henry Adams, a single man as a n undivided 2/3rd interest, as tenants in common.

7.  Trust:  Title to real property in California may be held in a title holding trust. The trust holds legal ad equitable title to the real estate.  the trustee holds title for the trustor/beneficiary who retains all the management rights and responsibilities.

8.  Community Property with Right of Survivorship:  Community Property of a husband and wife, when expressly declared in the transfer document to be community property with the right of survivorship. and which may be accepted in writing on the face of the document by a statement signed or initialed by the grantees, shall upon the death of one of the spouses, pass to the survivor, without administration, subject to the same procedures as property held in joint tenancy.

I strongly recommend you seek professional counsel from a CPA, attorney or tax professional to determine the legal and tax consequences of how title is vested.

Follow Along on Instagram

Beautiful evening for a walk with friends 🐾 Poppy and Tinker posing in paradise 😊 ...

13 0

Lots of properties on Agent Caravan on Thursday, May 26. What is Agent Caravan?

This is an opportunity for local Realtors® to view the new listings. We do this every Thursday from 9 AM - 11 AM. Contrary to what my friends think....we are not all on a big party bus driving around town LOL!!!

This week is the biggest caravan of the year (12 properties ranging in price from $500k to $2.5M) because inventory has finally started to increase. So.....if you are looking for something to do....stop by one of these properties. Everyone is welcome! If you are working with a Realtor® be sure and tell the person at the Open House.....otherwise we think you could be a new client for us!!

I will be at 354 Joaquin #4 -- stop by and say hello and I will give you a list of the other 11 properties on caravan.
...

0 0

Tonight kicks off the Mammoth Lakes Film Festival! Come see amazing films and party with the artists till Sunday! Another fun and local event for Mammoth Lakes!

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #summerfun
...

2 0

Don't miss out....

Come by and see this beautiful 3 bedroom home at 33 Kelley Road in Mammoth Lakes on Saturday, May 28. OPEN HOUSE from 2 PM - 5:30 PM.

LINK IN BIO for details.
...

2 0

You’re probably well aware that mortgage rates are rising. At the same time, home prices don’t seem to be coming down, there’s still a ton of competition, and you’re probably no stranger to bidding wars when you make an offer on a house. More in my blog. Link in Bio...

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate #realestatetips #realestatetipsandtricks
...

4 0

Attended the ribbon cutting for Mammoth Lakes new Disc Golf Park. Such a beautiful course built in our local paradise. A lot of work by local individuals, business and town government came together to make this happen. THANK YOU! Check it out next time you are in town! I have never played but I am going to learn! #mammothlakesrecreation #townofmammothlakes #lovewherewelive #paradise ...

21 1

Preparing for summer in Mammoth like...

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
...

10 0

"Thank you so much for your guidance and expertise in helping us to buy our dream home.
I am so grateful for your hard work and patience with all our questions at every step of the process. I genuinely trusted that you were looking out for our best interests and had our backs throughout this exciting and stressful process."

-Andrew & Cara

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #testimonials
...

7 0

Whew! This was only a 7 day escrow and we did it! So many offers on this one but the CASH offer with a quick close was just what my client was looking for! Thank you to Sara Knadler for bringing a quality buyer and for a smooth transaction. Sierra Escrow made it happen!

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
...

10 0

OPEN HOUSE
33 Kelley Road

Sunday, May 22
10 AM - 1 PM

Stop by and view this immaculate and beautiful 3 bedroom / 2.5 bath move in ready home. A rare find for such an amazing location and quality construction. The placement of the home on the lot is off-set from neighboring homes providing a true sense of privacy.

LINK IN BIO FOR DETAILS
...

3 0

Eric Van Winkle making a difference on Town Clean Up Day this past weekend! Way to represent Eric and the Mammoth Lakes Board of Realtors! #mammothlakes #TOML #communityspirit #towncleanupday #loveourcommunity ...

7 0

Swimming with dozens of Black Tip sharks and rays was exhilarating and fun (well after I got over my initial hesitation)! The water was so clear and these creatures were quite social! The tour was amazing - we went on to see a 12 foot Eagle ray below us while snorkeling! #tripofalifetime #conradboraboranui #pinchme #godisgreat #lifeisgood #blacktipshark #borabora #porapora @johnbushmammothloco ...

23 7

Today is the first day of Day Pass Reservations for Yosemite National Park! If you're in the area remember to make sure you have a reservation to get into @yosemite this summer!

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #summerfun #yosemite #nature
...

27 1

OPEN HOUSE
33 Kelley Road

Sunday, May 22
10 AM - 1 PM

Stop by and view this immaculate and beautiful 3 bedroom / 2.5 bath move in ready home. A rare find for such an amazing location and quality construction. The placement of the home on the lot is off-set from neighboring homes providing a true sense of privacy.

LINK IN BIO FOR DETAILS
...

7 0

I know it's something we don't want to think about... but with technology today a seller can be listening or recording you while you view their home. Make sure to be conscious and aware of that and always share your opinions outside or quietly.

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate #realestatetips #realestatetipsandtricks
...

7 1

Make sure to show your love and support as we go into the busy summer season to all the amazing workers who make Mammoth such an amazing, beautiful, and safe place to live. Thank you to all our rangers, forest service, hospital workers, police, first responders, SAR members and more!

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
...

25 0

That’s a wrap! 40th anniversary trip was AMAZING - don’t know where we could possibly go from here!! Truly a trip of a lifetime. So grateful ❤️ Headed back to reality tonight with arrival in 🇺🇸 tomorrow. Photos coming soon 🌴 #borabora #conradboraboranui #loveourlife #ThankYouGod #lovetotravel #pinchme @johnbushmammothloco ...

77 4

My buyers missed out in a multiple offer situation earlier this year and it happened for a reason. 924 Links Way was meant to be their Mammoth Lakes home! It is perfect for them. Things happen for a reason, right? So excited!' @side_realestate

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
...

7 0

Let’s Talk

You’ve got questions and we can’t wait to answer them.

We use cookies and tracking technology in connection with your activities on our website. By viewing and using our website, you consent to our use of cookies and tracking technology in accordance with our Privacy Policy.