Taking Title To Colorado Real Estate

Sometimes it’s the strangest little decisions you need to make when you buy real estate, that can often make a big difference in your life, if something changes later on.

When you purchase property in Colorado, like many other states, you need to decide how you want to have the title to your property represent your ownership.
Many couples who are married assume that whatever their real estate agent recommends is fine for them, but that might not be necessarily the best strategy.

Call, text, or email me today! … I’d seriously enjoy having the opportunity to talk to you about your plans if you’re moving, or if you know someone who is considering a move, and needs some straight answers.

There are three common ways of taking title to real estate in Colorado.

They are:

A) in severalty,

B) as tenants in common

C) as joint tenants.

Actually, many people don’t realize that Colorado state law prevents your agent from advising you on how to take title. I strongly suggest that you consult with an attorney so that he or she can advise you which type of ownership is best.

Here’s a brief explanation of the differences:

  • Tenancy in Severalty: Ownership of property vested in one person alone rather than held jointly with another also called several tenancy or sole tenancy.
  • Tenancy in Common: Tenancy in Common is a holding of an estate in land by two or more persons who need hold only by the unity of possession. As distinct from a joint tenancy, the tenants of a tenancy in common need not have the same proportionate share and subject to the rights of possession of the other tenants.
  • Joint Tenancy: In a joint tenancy, all the co-owners are equally entitled to the use, enjoyment, control, and possession. The most distinguishing characteristic of the joint tenancy is the right of survivor-ship.

The right of survivor-ship which accompanies a joint tenancy ownership does eliminate some of the legal complications of probate in the event of the death of one of the owners of a property. However, inheritance taxes are assessable and evidence of the death must be placed on record.

Disadvantages of joint tenancy may arise if marital difficulties occur, or if one of the parties has obligations or responsibilities (children) resulting from a previous marriage. The financial and tax situation of the parties may also dictate that a tenancy in common ownership is best.

Realtors should not recommend how should take title to your home. However, having this brief explanation may help you ask the right questions of your attorney or CPA, or both, when making this type of decision.

Thinking about buying a new home, or getting ready to sell?

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Check out this Euro-styled, completely-remodeled/updated Boulder home for sale in the Country Club Park subdivision, OR this amazingly  beautiful home in Lake Valley Estates with a new kitchen and master bath, and a huge yard … 5 minutes from Dakota Ridge?

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Zachary Epps, GRI, ABR, REALTOR®, full-time RE/MAX professional,  and author of the Boulder Area Neighborhood Guide.


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