The Ways That A Couple Can Own Property
by Jacqui Brauman
There are a number of ways that a couple can be registered on a Certificate of Title, as the owners of real estate.
A lot of how a couple would choose to be registered as owners will depend on tax, and succession planning.
Primarily, the default way for a couple is to register them as joint proprietors. When a couple is registered on real estate on the Title as joint proprietors, it means they jointly own one hundred percent of the property together.
If something happens to one of them, the property automatically transfers to the survivor.
Tenants in common
The other way that you can register on Title as the owners is as tenants in common.
This is less common for a couple that’s in a relationship, and more common amongst other family members or people who aren’t related, if they buy property as an investment together.
You can be tenants in common in equal shares, or you can be tenants in common in a different percentage, and you can actually register the percentage on the title. Now, you might do this for tax purposes. For example, you want less income to be going to the person who already has a high income from their job, so you might put them on as 10% or 1% on the title, and the other spouse is 90% or 99%.