Joint Tenancy For Unmarried Couples In Los Angeles
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FAQ
Unmarried couples who live together in California fall under the legal umbrella of 'cohabitation. ' A new law in California allows cohabitating romantic couples to file to be known as a domestic partnership. While this law affords couples similar rights to married couples, the law is only recognized within California.
Property. If an unmarried couple owns a house, or other substantial property together, it will be divided equally upon separation.
Unmarried couples typically hold title in one of two ways: joint or tenancy in common.
Joint Tenancy. If you take title as joint tenants, you share equal ownership of the property and each of you has the right to use the entire property. If one joint tenant dies, the other automatically becomes the owner of the deceased person's share, even if there's a will to the contrary.
As long as you and your ex can agree on how to divide up your assets, there is no need to involve lawyers or the court system. Even if children are involved, in most states you have the opportunity to separate in private, ing to whatever arrangements the two of you agree on.
Unity of Time, Title, Interest, and Possession: For a joint tenancy to be valid, all joint tenants must acquire their interest in the property at the same time, through the same deed, with equal interest, and have equal rights to possess the entire property.
Technically, the traditional way for a married couple with the same last name is ``Mr. and Mrs. John Doe,'' which also turns my inner feminist tomato red, but a lot of the other options (married, different last names, for example) use the ``Mr. John Doe and Mrs. Jane Day'' format. :)
Perhaps the most common way for unmarried couples to take title to real property is as "tenants in common." Unlike a joint tenancy, a tenant in common has no automatic right to inherit the property when the other partner dies.
