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Doug and Mary Land, REALTOR®, real estate agents and broker for Lakeway, Lake Travis and Austin Texas home listings, property and land for sale - NUMBER1EXPERT(tm)

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Real Estate Tips
Titles >Yours In Deed

The way that you hold title to your property has legal, tax, and estate-planning consequences. Many buyers do not receive adequate professional advice on this important aspect of property ownership.

If you are purchasing property by yourself, you will be acquiring title by sole (or "separate") ownership, single ownership, or severalty ownership. The term "severalty" does not denote more than one person - it is a legal term meaning that sole ownership is severed from all other forms of ownership.

If you are purchasing property with others, the most common forms of co-ownership are tenancy in common, joint tenancy, and community property. Tenants in common can be created when two or more related or unrelated people hold title to a property either equally or unequally. Each individual has the right to do whatever he wishes with his interest in the property. For example, he can sell his interest, give it away, or will it to someone else.

Before you take title, you should seek advice from your tax advisor and an attorney, particularly if you are buying the property with another person.

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Real Estate Trivia
Q 
Which islands are considered the largest islands in the US?

A 
The Hawaiian Islands with 10,456 square miles are followed by Kodiak Island in Alaska at 9,510 square miles.
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Capital City Sotheby's International Realty, REALTOR®, real estate agent and broker for Lakeway, Lake Travis and Austin, Texas home listings, property and land for sale - NUMBER1EXPERT

Mary Land, Website Concierge
Capital City Sotheby's International Realty

13420 Galleria Circle-A105, Austin, TX 78738
901 S. Mopac, Plaza II, #195, Austin, TX 78746
Email : mary.land@sothebysrealty.com

Your Lakeway,Texas real estate specialists.

ABR CLHMS CRS ePro Equal Housing ERC GRI MLS REALTOR


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