When it comes to owning real property, the written word controls. The words in your deed determine your rights and responsibilities to your property during your lifetime and what happens when you pass away.
Your home is considered real property, is conveyed by a deed and is recorded in the county recorder’s office where it is located. The deed to your home shows who owns the property, how it is held, and includes a legal description. Anyone can look up property records by visiting the county offices or its website.
Most of my clients maintain original paper copies of their deeds and keep them in a safe place. But when I ask them how their property is held, I often get a confused look. The best way to learn this information is by simply reading your deed.
In Nevada, a married couple can choose to hold their property as joint tenants (with rights of survivorship), or, as community property, or, as community property with rights of survivorship. A single individual holds their property as a sole owner, and unmarried persons can hold their property as joint tenants or as tenants in common. Each form ownership is slightly different. Do you know what your deed says, and more importantly, what it means?
Interested in learning more? Give me a call at 775-392-4223 or email me at firstname.lastname@example.org.