Ownership & Title
How ownership of commercial property is held, transferred, and recorded. Includes forms of co-ownership, deeds, and the distinction between real and personal property.
Real Property
Real property is land and everything permanently attached to it, along with the legal rights to use, lease, sell, or exclude others from the property.
Joint Tenancy
Joint tenancy is co-ownership in which two or more parties hold equal, undivided interests with right of survivorship, so a deceased owner’s share passes automatically to the others.
Tenancy by the Entirety
Tenancy by the entirety is co-ownership available only to married couples, treating them as one legal unit with right of survivorship and creditor protection.
Deed
A deed is the legal document that transfers ownership of real property from a grantor to a grantee and is recorded in public land records.
Fixture
A fixture is personal property attached to real estate so permanently that it is legally treated as part of the property.
Chattel
Chattel is movable personal property not permanently affixed to real estate, such as furniture, equipment, and trade fixtures.