Which Title Is Best for You?

Selecting the type of Tulsa real estate title can be as important as selecting any other factor of a home.  Sometimes, it can be more important.  Legal problems can arise simply because the type of title was not considered thoroughly before the real estate transaction occurred. 

Let's think about a type of title called "Tenants in Common".  With this type of title each person owns a specific percentage of the property.  The New York Times, in the article "A Quick Guide to Property Titles"   says that with Tenants in Common- "the form of ownership typically used by co-owners who are not married to each other — each owner’s interest belongs to that individual.  So with a tenancy in common, any owner can sell his or her interest to someone else, or if an owner dies, his or her share passes to heirs or beneficiaries."

Although this sounds pretty simply, there can be serious legal ramifications with any type of title selection.  Talk to your Tulsa attorney and Tulsa title company to find out which type of title is the best for your needs.   For more information on types of titles, read "Tulsa Title Considerations."