Title to real property may be held by individuals, either in Sole Ownership or in Co-Ownership. Co-Ownership of real property occurs when title is held by two or more persons. There are several variations as to how title may be held in each type of ownership. The following brief summaries the more common examples of Sole Ownership and Co-Ownership.
If you are married but separated and you wish to purchase property you would hold title under your name as the "Sole and Separate" owner and your spouse will need to sign a form stating they have no claim to the property.
One of the most common types of ownership is joint ownership between a husband and wife. Often, the owners will have a right of survivorship. That simply means if one of them passes away, sole ownership automatically goes to the surviving spouse.
If you are just dating someone, and not legally married, you can take title as "single (man) or (woman)". You will have the option to add the other party or not, depending on your personal preference.
This
is not a commitment to lend. Restrictions may apply. Information
is subject to change without notice. All loans are subject
to credit approval. Equal Housing Opportunity.