Archive for July, 2015

A Walk Through The Chicago Botanic Gardens

Written by Jack Lewitz | Discussion: No Comments »

What Kind of Title is Best for LGBT Community?

 

I applaud the Supreme Court Decision on Gay Rights to Marriage. With that decision the LGBT community is not only given the right to marry but now can share in owning real estate together.

Real Estate Deeds transfer Title from Seller but a buyer must choose how to take title. What kind of Title is best for LGBT community needs to be discussed when meeting with Estate Planners and Attorneys who prepare wills.

 

Common Ways to Hold Title To Real Estate:

Joint Tenancy: Is a way of two or more people can share ownership in Real Estate and with it comes the right of survivorship. When one party dies then it automically transfer to the other joint tenant.

 

Tenants in Common: Tenants in common can own unequal share of ownership in Real Estate and have the luxury of leaving their interest in the property to any designated beneficiary.

 

Community Property: Certain states allow Title to Real Estate to be held as Community Property.  These states include Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin.

Written by Jack Lewitz | Discussion: No Comments »

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