Redfin

JULY 1, 2025

But with some planning, honest conversations, and the right paperwork, you can avoid the drama and close the deal smoothly. Tenancy by the entirety: Reserved for married couples. Divorce typically converts it to a tenancy in common. You either find common ground, or you let a judge do it for you. No exceptions.

Sales

Redfin

JUNE 10, 2025

Cons One person’s credit impacts everyone : Whether it’s one close friend or three college roommates, just one bad credit score can negatively affect the whole group’s rates, no matter how high your own score might be. Will you sell the home or refinance so one person holds the title? It also has specific rights of survivorship.

Purchase and sale agreement

Redfin

JULY 17, 2025

Savings: Decide how much each of you can contribute from your savings towards the down payment, closing costs, and moving expenses. Who will hold the home’s title Choosing how to hold the title to your home is one of the most important decisions you’ll make.

Purchase and sale agreement

HomeLight

AUGUST 11, 2022

One partner can come home and say, ‘hey we bought a house today,’ but on the flip side, if a partner says, ‘hey I sold our house today’ that usually won’t work to convey title appropriately. In these examples, the way that the owners held title, and the marital property laws of the state are important considerations. Jennifer and.

Purchase and sale agreement

Realty Biz

NOVEMBER 18, 2021

They were both close to 40 years old when my husband was born, and he is an only child. I suggested to my husband that if we start paying half the mortgage that our names must be added to the title. Saige, once you agree on the ownership ratio, you want to turn it over to a real estate attorney to draw up a tenancy-in-common contract.

Tenancy in common

HomeLight

APRIL 29, 2022

Here are a few of the most common types of home co-ownership scenarios , along with how each situation could affect your sale: Tenancy in Common. A tenancy in common is one situation where multiple people can own the same home. You also don’t have to be married to enter into tenancy in common.

Tenancy in common

Realty Biz

JANUARY 7, 2022

If so, you need to understand the two main ways that people buy property together: joint tenancy and tenancy in common (TIC). For example, joint tenancy is usually used by married couples or cohabiting partners who both want an equal share in the property and want to be able to inherit the other tenant’s share if he or she dies.

Tenancy in common