The average homebuyer has little understanding of the consequences of choosing one vesting method over another. Thus, it is important for you as the title agent to take a vested interest (pun intended) in how the purchase will be titled. Granted, it is not as exciting as designing their new space or going furniture shopping, but the right choice now may avoid unintended consequences down the road. Homebuyers should be made aware that there are several options, and the best one depends on the facts, circumstances and goals of the buyers.
You, as the title agent, should make the homebuyer aware that there are various titling options. Attorney agents should discuss the clients’ reasons for buying and what the future may hold for them. For example, a common scenario is a young couple buying real property BEFORE they are married. Assuming that they do get married will they need a change in the title? What happens to the interest of each in the event the marriage does not take place? Answers to these questions and more depend on the method of taking title. Here are the basics: