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.