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Homeownership Terms to Know: Rent-Back Agreement, Joint Tenancy & More

Windemere Buying

The following homeownership agreements provide alternatives to a traditional home purchase. Rent-Back Agreement. A rent-back agreement (also known as a sale lease-back) is tailor-made for homeowners who are buying a home while selling their current one. Joint Tenancy. Tenancy In Common.

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Are Your Tenants in Common or Joint Tenants?

Realty Biz

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.

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4 Crucial Questions To Ask Your Partner Before Buying a House Together

Realtor.com

Buying a home makes financial sense only if you’re going to stay in it long enough to recoup your purchasing costs. For instance, if you see a sea of “For Sale” signs in a neighborhood, look elsewhere, advises Alison Bernstein , the founder of Suburban Jungle, a company that helps families find their ideal suburb.

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Your Guide to Selling a House with Multiple Owners

HomeLight

And if everyone involved isn’t aligned from the start, you can end up disagreeing on important details when it comes time to sell — potentially wrecking the sale and wasting all of the owners’ valuable time. Fortunately, there are ways to set up a smooth sale on a co-owned property.

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Can I Sell My House Without Both Owners’ Signatures?

HomeLight

If you own the home with your spouse or partner, the process is relatively straightforward when both parties are available to sign all of the documents involved in the sale process. In general, selling a marital home requires the agreement and cooperation of both spouses. You may be able to compel a sale. Single Family Homes.