Sole ownership is defined as ownership by a single individual or a specific entity capable of acquiring title. Common examples include:

1. A Single Person or a Widow/Widower:

This applies to an individual who is not legally married or in a registered domestic partnership. Example: John Buyer, a single man.

2. A Married Person as Sole and Separate Property:

This applies when a married individual wishes to acquire title in their name alone. The title company will typically require the spouse to specifically disclaim or relinquish any right, title, or interest in the property. This establishes the intent of both spouses that the property be granted as sole and separate property. Example: John Buyer, a married man, as his sole and separate property.

3. A Domestic Partner as Sole and Separate Property:

Similar to married individuals, a domestic partner may acquire title alone. The partner not taking title must specifically disclaim or relinquish their interest in the property. Example: John Buyer, a registered domestic partner, as his sole and separate property.

Title to property owned by two or more persons may be vested in several forms:

1. Community Property:

This is a form of vesting for property owned together by married persons or domestic partners. It is distinguished from separate property, which is acquired before the union, via gift or inheritance, or by written agreement. In California, property conveyed to a married person or domestic partner is presumed to be community property unless otherwise stated. Because ownership is equal, both parties must sign all agreements and loan documents. Example: Bruce Buyer and Barbara Buyer, husband and wife, as community property.

2. Community Property with Right of Survivorship:

This form shares the characteristics of community property but adds a right of survivorship. Upon the death of one owner, the decedent's interest ends and the survivor automatically owns all interests in the property. This may offer specific tax benefits. Example: Bruce Buyer and Barbara Buyer, husband and wife, as community property with right of survivorship.

3. Joint Tenancy:

Joint tenancy involves two or more persons owning equal interests with a right of survivorship. Title must be acquired at the same time and by the same conveyance. When a joint tenant dies, the interest passes automatically to the surviving tenant(s) by operation of law, bypasses a will, and avoids probate. Example: Bruce Buyer, a married man, and George Buyer, a single man, as joint tenants.

4. Tenancy in Common:

Under tenancy in common, two or more individuals hold undivided fractional interests in a property. These interests do not have to be equal and can be acquired at different times. Each owner may sell, lease, or will their specific share to heirs. Example: Bruce Buyer, as to an undivided 3/4 interest, and Penny Purchaser, as to an undivided 1/4 interest.

1. A Corporation *:

A corporation is a legal entity separate from its shareholders. It has its own personality under the law and can acquire and sell property in its own name.

2. A Partnership *:

An association of two or more persons carrying on a business for profit. A partnership may hold title to real property in the name of the partnership entity.

3. Trustees of a Trust *:

A trust is an arrangement where legal title is transferred by a grantor to a trustee to be managed for beneficiaries. Title is typically vested in the trustee on behalf of the trust. Example: Bruce Buyer, trustee of the Buyer Family Trust.

4. Limited Liability Companies (LLC) *:

A legal entity similar to both a corporation and a partnership. The operating agreement determines how the LLC is managed and taxed. Its existence is separate from its owners.

*In cases of corporate, partnership, LLC or trust ownership – required documents may include corporate articles and bylaws, partnership agreements, LLC operating agreements and trust agreements and/or certificates.