When purchasing property it pays to consider how you will hold title, since every circumstance is different and may necessitate a different strategy. Below I have listed six common ways to hold title.
1) A Single Man/Woman
A man or woman who is not legally married (i.e. John Doe, a single man).
2) A Married Man/Woman, As His/Her Sole and Separate Property
When a married man or women wishes to acquire title in his or her name alone, the spouse must consent by signing a quitclaim deed, relinquishing all rights, title and interest in the property (i.e. John Doe, a married man, as his sole and separate property).
3) Community Property
The WA Civil Code defines community property as property acquired by husband and wife, or either, during marriage, when not acquired as the separate property of either. Real property conveyed to a married man or women is presumed to be community property unless otherwise stated. Under community property, both spouses have the right to dispose of one-half by will, but all of it will go to the surviving spouse without administration if the other spouse dies without a will. If a spouse exercises the right to dispose of 1/2, that half is subject to administration in the estate (i.e. John Doe and Jane Doe, husband and wife, as community property).
4) Joint Tenancy
A joint tenancy estate may be defined as follows: “A joint interest is one owned by two or more persons in equal shares, by a title created by a single will or transfer.” A characteristic of joint tenancy is the right of survivorship. When a joint tenant dies, title directly vests in the survivor. As a result, the property is not subject to disposition by will (i.e. John Doe and Jane Doe, husband and wife as joint tenants).
5) Tenancy in Common
Under tenancy in common, the co-owners own undivided interests, but unlike joint tenancy, these interests need not be equal in quantity or duration, and may arise from different times. There is no right of survivorship; each tenant owns an interest which on his or her death vests in his or her heirs (i.e. John Doe, a single man, as to an undivided 3/4 interest, and George Smith, a single man, as to an undivided 1/4 interest as tenants in common).
6) Registered Domestic Partnerships & Same Sex Couples
WA Law allowed same sex couples to enter into such partnerships beginning in 2007. As a result of Referendum 74, same sex partners may be considered a married couple after June 30, 2014.