Joint Ownership Of Real Residential Or Commercial Property
1. Real Estate and Other Housing
2. Homeownership
3. Joint Ownership of Real Residential Or Commercial Property
Joint Ownership of Real Residential Or Commercial Property
Topics on this page
What is Real Residential or commercial property?
Key Terms
Tenancy in Common
Joint Tenancy
Tenancy by the Entirety
Determining the Ownership That's Best for You
Real residential or commercial property, which is likewise often described as realty, is the land and the things that are permanently connected to it, like a house. Real residential or commercial property can have a sole owner. Real residential or commercial property can likewise have multiple owners. The owner may be an individual, however the owners can likewise be a company, a trust, or other entity. A residential or commercial property can be owned by a combination of people and entities. There is no real limit on the variety of people or entities that can own a specific piece of genuine residential or commercial property.
This article focuses on ownership of genuine residential or commercial property in Maryland by numerous owners, frequently described as "joint ownership" or "concurrent ownership." It is very crucial to understand where the real residential or commercial property is situated since various states have different laws about how multiple owners can own real residential or commercial property.
In Maryland, joint owners have 3 alternatives for owning or "holding title" to genuine residential or commercial property. The laws associated with joint ownership of genuine residential or commercial property in Maryland is primarily governed by case law, which is the law discovered in judges' opinions. It is very important to understand the differences between the 3 alternatives because each option has various rights and obligations for the joint owners.
1. Real Estate and Other Housing
2. Homeownership
3. Joint Ownership of Real Residential Or Commercial Property
Joint Ownership of Real Residential Or Commercial Property
Topics on this page
What is Real Residential or commercial property?
Key Terms
Tenancy in Common
Joint Tenancy
Tenancy by the Entirety
Determining the Ownership That's Best for You
Real residential or commercial property, which is likewise often described as realty, is the land and the things that are permanently connected to it, like a house. Real residential or commercial property can have a sole owner. Real residential or commercial property can likewise have multiple owners. The owner may be an individual, however the owners can likewise be a company, a trust, or other entity. A residential or commercial property can be owned by a combination of people and entities. There is no real limit on the variety of people or entities that can own a specific piece of genuine residential or commercial property.
This article focuses on ownership of genuine residential or commercial property in Maryland by numerous owners, frequently described as "joint ownership" or "concurrent ownership." It is very crucial to understand where the real residential or commercial property is situated since various states have different laws about how multiple owners can own real residential or commercial property.
In Maryland, joint owners have 3 alternatives for owning or "holding title" to genuine residential or commercial property. The laws associated with joint ownership of genuine residential or commercial property in Maryland is primarily governed by case law, which is the law discovered in judges' opinions. It is very important to understand the differences between the 3 alternatives because each option has various rights and obligations for the joint owners.