Aestar – Tenants in Common

Aestar LLC supervises the sale transactions, verifies legal documents, and insures real estate rights.

Aestar LLC is a different title company.  Aestar offers knowledge to protect consumers: buyers and sellers.

The plain English of “Tenancy” is simply the “Real Estate Ownership” which defines the agreement or relationship between/among all parties. There are four (4) popular choices.

  • 1) “Sole Owner” – Refer to our previous discussion.
  • 2) “Tenants by the Entireties” – Refer to our previous discussion.
  • 3) “Joint Tenants” – Refer to our previous discussion.
  • 4) “Tenants in Common” is suitable for when every owner may have his or her percentage of the ownership, either equal or unequal. For example, you and the other buyer are not married and you are unwilling to give up your shares of the ownership when you die.  In Maryland, if you should not choose any tenancy on the deed, the grantees hold title as “Tenants in Common”. When one of the owners dies, his or her percentage of the ownership does not automatically become other owners’. Therefore, the estate must be opened to pass/convey that deceased’s tenant in common, if the real estate is being sold.

Contact me should you have further questions.

*This column is not legal advice and should not be acted upon without obtaining your own legal counsel.

Jonathan D. Kan, ESQ. is admitted to practice before the Court of Appeals of Maryland in 2017. Mr. Kan graduated as a Juris Doctor of University of Baltimore School of Law, Maryland, in 2017, concentrating on criminal, trust and estate, and real estate laws. Mr. Kan has published the Aestar Blog since 2015. He co-founded Aestar LLC in 2013. Mr. Kan has been a licensed title producer, settlement agent, and notary public serving the Maryland and Virginia states since 2013.

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