How to carry title in Maui County Hawaii Kihei Wailea

How to carry title in Maui County, Hawaii.

Aloha, Howard Dinits Here. As your Realtor® it is my job to know the ins and the outs of Maui Real Estate.

It is also my job to educate my clients about reo’s, foreclosures, short sales, so they can make wise decisions.  Today’s topic is How to carry title in Maui County, Hawaii.

You may hold Title in many ways.

Which one is best for you?
You choose. Not sure? As a Realtor my job is to suggest you to seek legal counsel.

Tenancy in Severalty – Property owned by John Only
• Liens against John are liens against his property, and will continue to attach after John’s death.
• Upon John’s death, his interest passes to his heirs or devisees through probate proceedings.

Joint Tenancy – Property owned by Janet Cool, Linda Lilikoi, and Suzy Martini.
• Janet , Suzy, and Linda’s interests in the property must be equal – each has a 1/3 interest.
• A lien against Linda is a lien against her 1/3 interest in the property only; upon Linda’s death, that lien is ineffective as to the
property.
• Janet does not need Suzy or Linda’s consent, nor does she need to give them notice, if she (Janet) wishes to sell her
interest in the property to others.
• Includes right of survivorship – meaning, upon death of Suzy Jones, her interest in the property passes to Janet and Linda
without probate proceedings.

Tenancy by the Entirety – Property owned by Harry and Joyce Liu, husband and wife
• Harry and Joyce must be legally-married.
• Also for parties with a registered reciprocal beneficiary relationship (parties who may not legally marry – such as two
brothers, mother-daughter, two friends of the same sex – and who are not currently married to another person).
• Includes right of survivorship – upon death of Harry, interest passes to Joyce without probate proceedings.
• Judgment liens against Harry, but not Joyce, do not attach to the property.
• Federal Tax Liens and Child Support Liens against Harry, but not Joyce , DO attach to the property.
• Neither Harry nor Joyce may sell, mortgage, etc. without the other’s consent.

Tenancy in Common – Property owned by Tom James (2/3 interest) and Fred Johnson
(1/3 interest)
• No right of survivorship between the co-tenants – upon death of Tom, his 1/3 interest goes to his heirs or devisees through
probate proceedings.
• A lien against Tom is a lien against only his 2/3 interest in the property.
• Tom may sell, mortgage, etc. his interest without Fred’s knowledge or permission.

Now you know how to carry tile in Maui, Kihei, Wailea, Lahaina, Kahului, wailuku, maui meadows areas. Plus the entire state of Hawaii.

Howard Dinits R(B)
Dinits Realty
Certified Residential Specialist
Is here to help you with Maui Real Estate
Call me 808-874-0600

 

Here are the way to hold title. escrow, deed, joint, tenancy, Tenancy in Common, in Common tenants, in common, tenancy by entirety, by entrirety, Tenancy in Severalty, in Severalty and carry title.

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