When purchasing real estate, one of the most important decisions you'll make is how to take ownership of the property, known as vesting the title. This choice can have significant ramifications on your rights and obligations as a property owner, affecting everything from your tax liabilities to your estate planning options. The American Land Title Association (ALTA) stresses the importance of carefully considering your options and seeking legal counsel before making a decision, especially when multiple parties are involved. In this comprehensive guide, we'll delve into the various methods of holding title, their implications, and key factors to consider when making your choice.
