18
© Ticor Title Company
VESTING: COMMON WAYS OF HOLDING TITLE
Community
Property
Joint
Tenancy
Tenancy in
Common
Tenancy in
Partnership
Title Holding
Trust
Parties
Marriage (husband and
wife)
Any number of
persons (can be
husband and
wife/same sex marriage/
registered
domestic partners)
Any number of
persons (can be
husband and
wife/same sex marriage/
registered
domestic partners)
Only partners (any
number of partners)
Individuals, groups of
persons, or
corporations, a
living trust
Division of
Interest
Owners and
managerial
interests are equal (Except
control of
business is solely
with managing
spouse)
Ownership interest must
be equal
Ownership can be divided
into any number of
interests equal or unequal
Ownership interest is in
relation to interest in
partnership
Ownership is a
personal property
interest and can
be divided into any
number of interests
Title
Title is in the
“community”. Each
interest is separate but
management is unified
Equal right of possession Each co-owner
has a separate
legal title to his/her
undivided interest
Title is in
partnership
Legal title is held
by the trustee;
beneficiary has
equitable title
Possessions Both co-owners have
equal management control
Equal right of
possession
Equal right of
possession
Equal right of
possession but
only for partnership
purposes
Right of possession
as specified in the
trust provisions
Conveyance Personal
property (except
“necessaries”)
may be conveyed
for valuable
consideration without
consent of other spouse;
real property requires
written consent of other
spouse, and separate
interest cannot be
conveyed except
upon death
Conveyance by one
co-owner without the
others breaks the joint
tenancy
Each co-owner’s
interest may
be conveyed
separately by its
owner
Any authorized
partner may convey whole
partnership
property for
partnership
purposes
Designated
parties within the
trust agreement
authorize the
trustee to convey
property. Also,
a beneficiary’s
interest in the trust may be
transferred




