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--- types_of_ownership [2025/12/23 09:58] – created reidjs
+++ types_of_ownership [2025/12/23 10:00] (current) – reidjs
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 ===== 1. Sole Ownership =====
 Ownership held by one individual or legal entity.
-- Also called severalty
-- Owner has full bundle of rights
+  * Also called severalty
-- Common with single buyers or entities (LLCs, corporations)
+  * Owner has full bundle of rights
+  * Common with single buyers or entities (LLCs, corporations)
 ===== 2. Co-Ownership =====
@@ Line 11: / Line 12: @@
 ==== a. Tenancy in Common ====
-- Separate but undivided interests
+  * Separate but undivided interests
-- Interests may be equal or unequal
+  * Interests may be equal or unequal
-- Each owner may sell or will their interest
+  * Each owner may sell or will their interest
-- No right of survivorship
+  * No right of survivorship
-- Default form of co-ownership in California
+  * Default form of co-ownership in California
 ==== b. Joint Tenancy ====
-- Equal ownership interests
+  * Equal ownership interests
-- Includes right of survivorship
+  * Includes right of survivorship
-- Requires the four unities: time, title, interest, possession
+  * Requires the four unities: time, title, interest, possession
-- Upon death, interest passes automatically to surviving joint tenant(s)
+  * Upon death, interest passes automatically to surviving joint tenant(s)
 ==== c. Community Property ====
-- Ownership by married spouses or registered domestic partners
+  * Ownership by married spouses or registered domestic partners
-- Property acquired during marriage/partnership
+  * Property acquired during marriage or partnership
-- Equal interests
+  * Equal interests
-- No right of survivorship unless specified
+  * No right of survivorship unless specified
 ==== d. Community Property with Right of Survivorship =====
-- Equal ownership by spouses or registered domestic partners
+  * Equal ownership by spouses or registered domestic partners
-- Combines community property and survivorship
+  * Combines community property and survivorship
-- Avoids probate for the deceased spouse’s interest
+  * Avoids probate for the deceased spouse’s interest
 ===== 3. Ownership in Trust =====
 Property held by a trustee for the benefit of beneficiaries.
-- Trustee holds legal title
-- Beneficiaries hold equitable title
+  * Trustee holds legal title
-- Common for estate planning and probate avoidance
+  * Beneficiaries hold equitable title
+  * Common for estate planning and probate avoidance
 ===== 4. Ownership by Business Entities =====
 Property owned by legal entities rather than individuals.
-- Corporations
-- Limited Liability Companies (LLCs)
+  * Corporations
-- Partnerships
+  * Limited Liability Companies (LLCs)
+  * Partnerships
 Title is held in the name of the entity.