Understanding Home Ownership in Washington State: Types of Titles and the Transition of Ownership
Homeownership is a significant milestone in life, and it's essential to understand the various types of property titles and what happens to ownership when an individual passes away. In Washington State, as in many other places, there are distinct forms of property titles, each with its own implications for ownership transition. Types of Titles for Real Property in Washington State: 1. Sole Ownership: In sole ownership, a single individual holds the title to the property. They have full control over the property and can transfer or sell it at will. When the sole owner passes away, the property typically passes to the designated heir or beneficiaries through their will or, if there's no will, it goes through the probate process. 2. Tenancy in Common: This form of ownership allows multiple individuals to own a property together, each with a specified share. These shares can be equal or unequal, and each owner has the right to transfer or sell their share. In the event of an owner&