Property Ownership in Colorado

By
Real Estate Agent with ERA Herman Group Real Estate

 Real Estate Property Ownership in Colorado

When you buy real estate in Colorado, it's important to understand the different ways you can hold title

 1. What is joint tenancy in Colorado?

It's property ownership in the name of two or more people. When one person dies, the survivor becomes the sole owner as the property automatically passes to the survivor.   Joint tenancy is commonly used by married persons or family members to provide a right of survivorship.

2. What is Sole Ownership or Severalty in Colorado?

It is property ownership solely in one name, and this person owns all rights to the property.   Property can be transferred upon death by will or a trust.

3. What is Tenancy in Common in Colorado?

It is property ownership with another person.  A Tenant in Common may sell to another person, or their interest can be transferred by a will or a trust.  A tenant in common has no right of survivorship.  Each co-tenant is entitled to possession of the property in accordance with their relative interest. For example, two people holding in co-tenancy could have interests of 75%, and 25%.  Co-tenants do not have a right of survivorship among themselves.

If you need more information on this, consult with Legal Counsel

Posted by Kathy Torline - Nordstrom

KAT, A Colorado Springs Realtor You Can Trust in El Paso & Douglas County; including Colorado Springs, Monument, Fountain, Larkspur, Pueblo, Castle Rock, Woodland Park, Palmer Lake www.Kathytorline.com

Colorado Springs Real Estate  

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Colorado
Groups:
Realtors®
Colorful Colorado
Localism Brainstorming
Colorado Springs Real Estate
Posts to Localism
Tags:
colorado real estate
colorado springs buyers
colorado spring real estate
colorado springs realtor

Anonymous
Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
217,742
Patricia Beck
RE/MAX Properties, Inc., GRI, CDPE - Colorado Springs, CO
Colorado Springs Realty
Kathy this is infomative for buyers.  Many buyers have a difficult time understanding the different options on taking title for property they purchase.
Apr 29, 2008 06:06 PM #1
Anonymous
Anonymous
online estate agent
Interesting post
Apr 30, 2008 03:25 AM #2
Rainmaker
317,345
Kathy Torline
ERA Herman Group Real Estate - Colorado Springs, CO
Colorado Springs Real Estate Blog 719-287-1049

Patricia:  Glad you enjoyed reading it.  I always think it's important for us to help educate consumers.

Jun 15, 2008 06:14 PM #3
Rainer
73,665
Sabrina Kelley
ERA The Herman Group - Woodland Park, CO
Pikes Peak Region Realtor, Teller, Park and El Paso County Colorado

Nice post to keep all of us and the consumers aware.

Jun 16, 2008 08:40 PM #4
Rainmaker
317,345
Kathy Torline
ERA Herman Group Real Estate - Colorado Springs, CO
Colorado Springs Real Estate Blog 719-287-1049

Sabrina:  Glad you enjoyed the post!   Feel free to share it.

Jun 17, 2008 09:47 AM #5
Anonymous
Post a Comment
Spam prevention
Show All Comments
Rainmaker
317,345

Kathy Torline

Colorado Springs Real Estate Blog 719-287-1049
Ask me a question
*
*
*
Spam prevention

Additional Information