Questions and Answers > Real Estate > How should I take title?
How should I take title?
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How should I take title?
In a commercial transaction, the choices are to take title individually or through a business entity. Individually, you might have significantly more liability exposure than you are comfortable with, and some business entities, such as corporations, may offer protection from liability but have more tax debt than you want to pay.
Any time you take title in your name personally, you should have a clear understanding of the legal differences of taking title as joint tenants, as tenants in common, as a partnership, or as community property. All of these types of ownership have significant ownership implications and rights of survivorship. Professional advice from a qualified attorney is advisable to assist you in making your decision. The attorneys at Davis Miles can counsel you on your rights and the rights of your co-owners in these ownership matters. |