1. Real Estate Principles Tenth Edition Real Estate: An Introduction to the Profession Tenth Edition

2. Chapter 4 Forms of Ownership ______________________

3. One or More? Sole ownership Tenants in common Joint tenancy Community property Partnership Corporation

4. Tenants in Common A A B B C C A A B B C’s heirs One parcel of land; Three owners with unity of possession What happens if C dies?

5. A A C C Joint Tenancy with Right of Survivorship A A B B C C One parcel of land; Three owners, four unities (PITT): Possession, Interest, Time, Title If C dies? B B

6. Married Persons Tenancy by the Entirety Community Property Separate Property

7. Holding Title

8. Additional Ownership Forms S Corporations Trusts Inter Vivos Trust Testamentary Trust Limited Liability Companies (LLC)

9. Key Terms Concurrent ownership Estate in severalty Joint tenancy Limited Liability Company (LLC) Limited partnership Right of survivorship Tenancy by the entirety Tenants in common Undivided interest