Holding Title

Holding Title - One of the most important aspects of the entire escrow procedure is how you take title becuase it not only determines how you will be insured it has significant legal and tax consequences as well. It can create some unanticipated complications in the future when you decide to transfer the title to someone else. So much depends upon the precise way to hold title, in fact, that you should not rely on advice from a real estate agent, escrow officer, or friend when you are trying to determine how to hold title. You would be wise to consult your attorney or tax consultant about to hold title in your particular circumstances.

In addition you need to keep in mind whether you are in a community property sate such as Texas. In states like this selling can be a little difficult if the wife/husband doesn't want to sign papers when selling the property in the case of a divorce. So definitely check with your legal council to see what is best for your situation.