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Understanding Property Ownership for Family Homes

Lucas Leo by Lucas Leo
May 24, 2025
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Understanding Property Ownership for Family Homes
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Learn key insights on property ownership for family homes, including legal rights, co-ownership, inheritance, and title options.

Owning a family home is one of the biggest decisions many people will make. It’s not just about choosing the right house or neighborhood- it’s also about knowing how the property is owned. Property ownership affects who has legal rights, what happens if someone passes away, and how the home can be sold or passed on to others.

This article will explain the most common ways to own property, especially when more than one person is involved. We’ll look at the basics of ownership types like tenants in common and joint tenants, and help you understand what works best for family homes.

Table of Contents

  • What Is Property Ownership?
  • Sole Ownership
  • Joint Tenancy
  • Tenants in Common
  • What About Married Couples?
  • Choose the Right Ownership for Family Homes

What Is Property Ownership?

Property ownership means having legal rights to use, sell, or pass down a piece of real estate. These rights are recorded with the local government and usually listed on the property deed.

When you own a family home, you may share ownership with a spouse, family member, or another person. Choosing between tenants in common and joint tenants depends on your relationship with the co-owner and your long-term plans. That’s why it’s important to know the different types of ownership that can apply.

Sole Ownership

This is the simplest form of ownership. One person is the only owner of the home. That person has full control and can sell, rent, or leave the property to someone in their will.

Sole ownership is common for single buyers or when one person buys a home before marriage.

Joint Tenancy

When two or more persons possess equal portions of a home, this is known as joint tenancy. The right of survivorship is a crucial component of joint tenancy. This implies that in the event of an owner’s death, their share automatically passes to the surviving owner or owners rather than to their heirs or via a will.

If a married couple owns a home as joint tenants, for instance, and one of them dies, the other spouse immediately becomes the sole owner.

Joint tenancy is often used by married couples or close relatives who want a simple way to pass ownership if someone dies.

Tenants in Common

With tenants in common, two or more people own shares in the property, but those shares don’t have to be equal. One person can own 60% and the other 40%, for example.

The big difference from joint tenancy is that there is no right of survivorship. When one owner dies, their share goes to whoever they name in their will, or by law if there is no will.

For instance, if two siblings own a home as tenants in common and one dies, their part of the home goes to their children or spouse, not the other sibling. This form of ownership is good for people who want to keep their shares separate, such as friends or family members buying a home together.

What About Married Couples?

In many states, married couples can choose how to own their home. Some states also offer a third type called tenancy by the entirety, which is like joint tenancy but only for married people. It offers extra legal protections, such as keeping creditors from going after the home if only one spouse has debt.

Choose the Right Ownership for Family Homes

Understanding property ownership for family homes helps protect your loved ones and avoid problems down the road. Whether you’re buying or sharing a home with someone else, take time to talk with a legal or real estate professional. That one step can make a big difference.

Looking for more tips and tricks? Be sure to check out our blog daily for updates!

Lucas Leo

Lucas Leo

Hi, I’m Lucas Leo, author and blogger at AccordingLaw.com. I’m passionate about delivering the latest legal news and updates according law to keep you informed. Join me as I explore and share insights into the ever-evolving world of law!

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