In short, title is the legal ownership of property. Someone who holds title to a piece of property, whether that is real property like land or intangible property such as a bank account, holding proper title designates that person as the legal owner of said property. How someone holds title is very important and signifies how they are able to then pass that property down through proper estate planning.

There are 4 basic ways in which property can be titled:

Solely and Individually
A very common way of titling, having something titled in an individual’s sole name gives them sole ownership over such property.
Beneficiary Designations
Adding a beneficiary allows someone to pass property immediately to whom they prefer, bypassing the probate procedures.
Joint Ownership:
Holding property jointly with another person allows someone to bypass probate procedures but also gives the other person present-day ownership rights.
Trust Ownership
Holding property title in the name of a trust allows for that property to pass directly through the terms prescribed in a formal trust agreement. This method provides maximum control over property distribution during estate administration.

For More Information:

Join us for an upcoming FREE seminar to learn about titling and incorporating a trust into your estate plan. If you have questions or concerns about your estate plan, contact the experienced estate planning attorneys at Sinclair Prosser Gasior by calling (410) 415-9900 to schedule an appointment.

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Nathan Seidle

Attorney at Sinclair Prosser Gasior

Nathan Seidle is an Associate Attorney at Sinclair Prosser Gasior, focusing on estate planning and estate administration clients.

Nathan’s desire to practice estate planning began in law school through an Estates and Trusts course. He greatly identified with helping people take control of their legacy and ensuring that their loved ones are cared for.

Title – How Do You Own Your Property?

Solely and Individually
A very common way of titling, having something titled in an individual’s sole name gives them sole ownership over such property.

Beneficiary Designations
Adding a beneficiary allows someone to pass property immediately to whom they prefer, bypassing the probate procedures.

Joint Ownership:
Holding property jointly with another person allows someone to bypass probate procedures but also gives the other person present-day ownership rights.

Trust Ownership
Holding property title in the name of a trust allows for that property to pass directly through the terms prescribed in a formal trust agreement. This method provides maximum control over property distribution during estate administration.

Solely and IndividuallyA very common way of titling, having something titled in an individual’s sole name gives them sole ownership over such property.

Beneficiary DesignationsAdding a beneficiary allows someone to pass property immediately to whom they prefer, bypassing the probate procedures.

Joint Ownership:Holding property jointly with another person allows someone to bypass probate procedures but also gives the other person present-day ownership rights.

Trust OwnershipHolding property title in the name of a trust allows for that property to pass directly through the terms prescribed in a formal trust agreement. This method provides maximum control over property distribution during estate administration.

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Solely and Individually
A very common way of titling, having something titled in an individual’s sole name gives them sole ownership over such property.

Beneficiary Designations
Adding a beneficiary allows someone to pass property immediately to whom they prefer, bypassing the probate procedures.

Joint Ownership:
Holding property jointly with another person allows someone to bypass probate procedures but also gives the other person present-day ownership rights.

Trust Ownership
Holding property title in the name of a trust allows for that property to pass directly through the terms prescribed in a formal trust agreement. This method provides maximum control over property distribution during estate administration.