Assignment:
You have been married to your partner for 10 years. With the housing market being a red-hot buyer’s market, you and your partner have decided to purchase your first home. You live in California, and you are thrilled that housing prices have finally come into the range of a payment you can afford.
Prepare a 1 page report in which you do the following:
Discuss the types of concurrent ownership options available to you and your partner in the purchase of your first home.
Discuss the following types of ownership and how each type would apply to you as a married couple:
- Joint tenancy
- Tenancy in common
- Tenancy by the entirety
- Community property
Discuss, in detail, the following:
- The benefits of each type of ownership
- The options available to the owners upon the death of either party