One year after meeting at a senior citizens dance in Mesa, Arizona in 1992, Anthony Toth and Gloria Snyder Toth were married (Anthony, age 87 and Gloria, age 66). All property acquired during the marriage will be divided equally between both parties; it is known as community property in this state and applies to all types of possessions (both tangible and intangible), real estate, income, or debts that exist at the time of divorce. Joint Tenancy What is Joint Tenancy? Two or more individuals can own assets together in joint tenancy. Compare title types and learn about the advantages and disadvantages of tenants in common, joint tenancy, community property, community property with right of survivorship and sole ownership. In. Tenants in common do not have to be married (or even related) to one another in. A joint tenant can indeed sever the right of survivorship WITHOUT the consent of the other joint tenants. When one spouse is a not a U. This is when a deed with the right of survivorship is most commonly used, with the ultimate goal to ensure that the distribution of the property is equitable. Under common law, joint tenancy with a right of survivorship requires that the ownership interests are: Held by all of the joint tenants. Joint Tenancy: A type of property right where two or more people own or rent a property together, each with equal rights and obligations, until one owner dies. Separate property includes all property that a spouse obtained before marriage, through inheritance, or as a gift. separate property character of an asset acquired by spouses during marriage. On the death of the tenant in common the deceased persons ownership in the property is left to his or her heirs or as specified by Will. When multiple people own property in Arizona, they are usually referred to as concurrent estates. Five years ago, when his wife died, Edward became the sole owner of a home and three rental properties that the couple had owned in joint tenancy. A single living trust involves just one individual, while a joint living trust usually involves a married couple. A joint tenancy is severed by (a) mortgage or creation of a deed of trust, (b) transfer to a revocable or irrevocable trust, (c) contract to convey the property, or (d) destruction of one or more of the four unities; and the result is the failure of the right of survivorship. This is a form of vesting title to property owned together by spouses or by registered domestic partners. When two or more people own property as. L. m. Warranty Deeds. Commingling of assets does not happen on purpose. A spouse's real and personal property that is owned by that spouse before marriage and that is acquired by that spouse during the marriage by gift, devise. After completing and executing the Arizona real estate deed, the next step is recording. C. Deeds of trust are used in place of mortgages and are favored by lenders because no judicial “foreclosure” is required. Learn why you should terminate them with experienced estate planning attorneys. the other hand, the essence of a joint tenancy was the existence of. Make sure and use the legal description on the deed. Beneficiary deeds; recording; definitions. One party may own 60% while another party owns 40%. (c) A party shall be reimbursed for the party's separate property contributions to the acquisition of property of the other spouse's separate property estate during the marriage, unless there has been a transmutation in writing pursuant to Chapter 5 (commencing with Section 850) of Part 2 of Division 4, or a written waiver of the right to. The amount of tax depends on your relationship. The most controversial feature of a joint tenancy is not the relationship among joint tenants while both or all are living, but theWhen recorded, a special warranty deed conveys an interest in real property to the named grantee with limited warranties of title. The grantor is the person or persons who owns the property. Tenants in common could also be married or unmarried. In this type of ownership, the estate and heirs-at-law of the deceased owner will receive absolutely nothing. If acquired after, then the property was subject to the presumption under Family Code §760, he said. Joint Tenants. '1 3 5' will search for 1, 3, or 5 while '1:5' will search for 1 through 5. In a community property state, if the deed says the property is owned "as husband and wife," that means community property. Tenancy In Common (TIC) With tenancy in common (TIC), two or more persons hold title to real estate jointly, with equal or unequal percentages of ownership. You will also need to include the legal description of your property. B) Joint tenancy with right of survivorship (JTWROS), tenancy by. 4221. Upon the death of an owner, the decedent’s interest ends and the survivor owns the property. Which of the following statements regarding a joint tenancy is FALSE? Joint tenants each have the right to use the whole property. 11 Upon the death of one joint tenant, the entire estate remains to the others. S. Ashley and Braxton, a married couple, purchase a home as joint tenants with right of survivorship for $200,000. In order to sever the right of survivorship, a tenant must only record a new deed showing that his or her interest in the title is now held in a Tenancy-in-Common or as Community Property. A boat, owned and registered in your name, which you bought during your marriage with your income. state-level legal distinction of a married individual's assets. This is a form of vesting title to property owned together by spouses or by registered domestic partners. It determined that the trial court acted well within its discretion. “The law in this state recognizes that a joint tenancy may be held by two or more persons in personal as well as real property. With a joint tenancy, each joint tenant’s interest must be created by the same instrument, each interest must be equal, and each tenant must have the same rights and obligations respecting the property. — If a party alleging that property held in joint tenancy was meant to be separate, to prevail there must be either a clear designation of that intent, or enough evidence to overcome the presumption of community property. Son argued that, under the language of Arizona law, his father and Mrs. Arizona is one of 10 community property states. ership of a part explains how each joint tenant has a presently alienable in-terest. In a community property state — let’s say California — your ownership rights are automatic for a house acquired during your marriage. In some states, these may be considered separate deed types, but in California, these are usually just customized grant deeds. Marital Property: A U. and. A gift or inheritance to a married person is separate property. Not all community property states will let a creditor file a lien on joint property where only one spouse is a judgment debtor. When you add your spouse to the deed, however, the spousal basis is still what you paid for the property. A deed to two or more new owners only creates a joint tenancy if the deed expressly states that the new owners take title as joint tenants. On the death of an owner, the property passes automatically to the surviving owners. A deed of a partial interest from one spouse to another will create a tenancy in common. Community or marital property refers to all property acquired by either or both spouses during the marriage in which each spouse has an equal ownership interest in, regardless of who obtained the property, who uses the property, who paid for the property or what name a title is under. Add the Quitclaim Deed from Individual to Two Individuals in Joint Tenancy - Arizona for redacting. When a joint tenant dies, title to the property is automatically conveyed by operation of law to the surviving joint tenant(s). Draw your signature, type it, upload its image, or use your mobile device as a signature pad. Because joint tenancy has long required that the joint tenants’ interests are identical, and acquired at the same time. If all the marital property is owned as joint tenants, then at the time of the first spouse’s death, nothing needs to happen to transfer property. Upon the death of one tenant in common, his or her ownership interest passes to his or her heirs as part of the estate. Grant Deed. Joint tenancy. “This conveyance establishes sole and separate property of a spouse. B and A each hold a 50% interest. property acquired by gift or inheritance by either spouse before, during, or after the marriage. This new status can be created without the need for a "straw person," which is required with Joint Tenancy deeds with rights of survivorship, and it can be terminated by the recording of an affidavit. In 1995, the Arizona legislature made the. 9. The basis step-up rules apply differently when property is held in joint tenancy versus community property resulting in potentially different tax consequences. So if two people own the property, each controls 50%. However, a couple can formally agree to hold real property as joint tenants. And in California, that. Joint tenant situations also create potential problems involving the use of a beneficiary deed. The key difference is that tenants in common does not include the right of survivorship. A deed of gift. For example: Bruce Buyer, a married man and George Buyer, a single man, as joint tenants. 2d 1172. 3 Joint tenancy with right of survivorship may be the simplest and most efficient way for spouses to own property. A Spouse Only Owns 50% of Joint Tenancy Property. Can one spouse decide to reconvert the joint property to community property without the other spouse’s. § 12-1103, subsection B. B)Tenancy by the entirety is a special form of joint tenancy only available to residents of Louisiana. This means that a married couple, for instance, must fill out and record two separate TOD deeds. A “transmutation” is an interspousal transaction or agreement that changes the character of property as community or separate. A joint tenant can indeed sever the right of survivorship WITHOUT the consent of the other joint tenants. S. any property one spouse owned alone before the marriage. 2d 818 (1970), the Arizona Supreme Court considered several quitclaim deeds a spouse signed. The individuals, who are called joint tenants, share equal ownership of the property and have the equal, undivided right to keep or dispose of the property. A deed that conveys an interest in real property, including any debt secured by a lien on real property, to a grantee beneficiary designated by the owner and. Your manner of holding does not have to be 50-50, and tenants-in-common can have unequal shares. 9 Code §2040 requires complete inclusion of JTWROS property in the gross estate of joint tenant – except for such portion as is contributed by the other joint tenant. Alice sells her ownership interest to Sam. As joint tenants each of the co-owners have an equal right to possession of the entire property and one co-owner cannot sell, mortgage or otherwise. For example, a house, car, or furniture. The court shall consider all of the following factors under this subsection: (1) The income, property, and liabilities of each party at the time the division of property is to become effective. 00 equity that remains, $100,000. Understanding Beneficiary Deeds. Upon death, the interest passes in accordance with either a will or the laws of intestacy. The Court of Appeals agreed with the general proposition that placing the property in joint tenancy constitutes a gift to the community, but noted that jointly held property was subject to equitable, not equal, division. There are several joint ownership options in Arizona, each with its advantages and disadvantages. Even if you divided everything informally when you separated, a judge still needs to make a formal order about these issues. Instead, the divorce serves to change the joint tenancy title to tenancy in common so the surviving ex-spouse owns half the house, and the deceased spouse's heirs. First, we look to the law. In Arizona, married couples are required to divide property upon divorce. Jimenez had to address the issue, among others, of whether an Arizona divorce court has the legal authority to join a third party in a divorce case for the purpose of allowing a spouse to bring a fraudulent conveyance claim in an Arizona divorce to recover monies a wife alleged her husband had. In a community property state, marital property becomes community property, which is equally owned by both spouses 50-50 regardless of who paid for it or how it is titled. Create Document. Thethe right of survivorship in the surviving joint tenant(s). You can change this only by giving up your rights in the home. Disposition. Enter your search criteria below. In other words, the co-owners are as a group, regarded as a single entity, with each person holding a one hundred percent stake in the property’s value. the portion of certain personal injury awards meant to compensate for. When you sign a quit claim deed, you do not make any guarantees or promises about whether someone else also has a legal interest in the property. How you can complete the Quick claim deed with right of survivorship form on the web: To get started on the blank, utilize the Fill camp; Sign Online button or tick the preview image of the form. But if you own 60% of a house and your partner owns 40%, joint tenancy. Sometimes two or more people may own property as. Obtain the proper form: Arizona joint tenancy deed forms can be obtained online or from a real estate attorney. The two parties could be a husband and wife, business partners or any other combination of people who have a reason to. Joint tenants, on the other hand, must obtain equal shares of the property with the same deed, at the same time. Earnings of either spouse during a marriage are community property in Arizona. Sheriff’s Deed. acquire property as joint tenants, is the joint tenancy deed alone sufficient to transmute the community character of the property into the separate property of the spouses? Family Code section 852 provides that for property acquired on or after January 1, 1985, a transmutation “is not valid unless made in writing byJoint Tenancy Means Equal Shares. Separate ranges with a colon. Avvo Rating: 6. S. Of the $400,000. Unlike tenants in common, joint tenancy has several requirements that must be met in order to be properly created. Deeds are provided for individuals, corporations, Limited Liability Companies and husband and wife. As long as both you and your brother together own 100 percent of the property and, for the one-year period prior to the date of death, both of you were on title and continuously resided in the property, the surviving cotenant will qualify for the co. To be a joint tenancy, deed should have language negating the possibility that it is held as community property. Laws – Title 33 (Property), Chapter 4 – Conveyances and Deeds [1]. Part of your divorce involves dividing your property and debts. “In order to constitute a joint tenancy, four requisites must exist, namely: The tenants must have one and the same interest; the interest must accrue by one and the same. This is a statutory presumption that all property acquired by husband and wife is community property. Just as separate property can be transformed into shared property, community property can be turned into separate property by a gift from one spouse to the other. Separate property A. A type of ownership of real or Personal Property by two or more persons in which each owns an undivided interest in the whole. (520) 433-9631. Click on New Document and choose the file importing option: upload Joint Tenancy to Tenancy in Common Deed - Arizona from your device, the cloud, or a protected link. See Chester H. Any property acquired by a child by gift, bequest, devise or descent, with the rents, issues and profits thereof, is the child’s own property, and neither parent is. The last living owner inherits the entire property. The remaining. 1945 secs. 00 goes to the bank. Joint tenancy creates what is referred to as a right of survivorship, so when one owner dies, their interest in the property is automatically transferred to the surviving owner. State probate law determines whether property passes without probate. If I understand your situation correctly, you disclaimed your entire ownership in the house and gave your interest to your husband. No lawsuit is usually required. Your effective gift deed must have several traits and components: It is created to make an immediate transfer of the owner’s interest in the property, and an actual delivery of the property. However, a couple can formally agree to hold real property as joint tenants. E. Thus, upon the death of the first spouse. Legal Forms™, Inc. If a spouse mixes (called "commingling") his or her separate property with community property. See morePlacement of Properties into Joint Tenancy by Husband Constituted a Gift of Separate Property Spouse Gifting Property Through Joint Tenancy is Not Entitled. Arizona’s community property law for spousal debt is complex, so don't assume automatically that you must pay your spouse’s debt. The law allows more than one person to own property in a variety of ways. With joint tenancy, multiple owners end up sharing equal ownership rights. The. §33-405) transfer property upon death. In order to sever the right of survivorship, a tenant must only record a new deed showing that his or her interest in the title is now held in a Tenancy-in-Common or as Community Property. Bell-Kilbourn made a decision regarding the effect of a Disclaimer Deed in a divorce in Arizona. §33-405 (statute includes a sample form) • Beneficiary deeds (A. Joint tenants must have equal ownership interests in the property. a joint tenancy can be created only by the intentional act of conveying a deed or giving the property by will or living trust. In a dissolution of marriage, the court can’t order a substantially unequal division of property held in joint tenancy for the purpose of reimbursing the spouse who used separate funds to acquire property. 262, 267. L. For simplicity, much of the language relating to beneficiary deeds refers to a single owner. When a joint tenant dies, title to the property is auto-matically conveyed by operation of law to the surviving joint tenant(s). Designate the vesting for the new owner (s): sole ownership, tenants in common, joint tenants, or community property. A. First, the Court of Appeals considered whether the trial court had the authority to find that the husband had gifted a half interest to his wife. Spouses can change separate property to community property by transferring the title into joint ownership. Only clear and convincing evidence proving that was his a spouse’s intention can rebut this presumption. Property or money acquired by gift, will, or inheritance is also separate property, even if it is received during the marriage. Sole and Separate: Real property owned by a spouse before marriage or any acquired after marriage by gift, descent of specific intent. Selected as best answer. Unity of title - all. The Components of a Gift Deed. We hold that under this rule, joint tenancy titling of property acquired by spouses using community funds on or after 2 In re BRACE Opinion of the Court by Liu, J. S. 84 million without paying any federal estate or gift tax. That means as a married couple, our fictional parents can gift up to $25. Surprise Arizona Warranty Deed for Husband and Wife to Five Individuals as Joint Tenants A professionally-drafted document by US Legal Forms can help you spend less time and costs, and stress. 2d 1317, 1332; see Code Civ. At Keystone Law Firm, we use our estate planning experience to help clients like untangle property issues relating to your estate plans. Joint tenancy is when each owner has equal shares in the property. The other children are. Please consult one of our attorneys for detailed information on each category. Gwen visits Edward daily to do light housekeeping, and she pays his bills and does the bookkeeping for the rental properties. If one of the joint tenants dies, their interest. A tenancy by the entirety is a form of joint ownership that protects property from creditors of either spouse. The court may impress a lien on the separate property of either party or the marital property awarded to either party in order to secure the payment of: Any interest or equity the other party has in or to the property. There is unity of interest. As of July 20, 1996, the Arizona legislature effectively abolished the requirement of the "straw deed" and the necessity of joint. If you die first, after a long marriage, and your spouse sells that $100,000 house for $750,000, their capital gains totaled $650,000, and they must pay capital gains tax on $400,000. Author: Francisco Sirvent - Keystone. The disclaimer deed in that divorce was signed on a home purchased during an Arizona marriage. Joint tenancy often works well when couples (married or not) acquire real estate, vehicles, bank accounts, securities, or other valuable property together. Tempe Arizona Agreement Converting Joint Tenancy Property into Community Property - Deed Obtain a template and reuse it as often as you need, or use US Legal Forms integrations with PDF modifying and electronic signing platforms to prepare the form. • A gift of lands to two or more persons in joint tenancy is such a gift as imparts to them, with respect to all other persons than themselves, the properties of one single owner. 33-416). ’If you are using our website the first time, follow the tips listed below to get your Michigan Warranty Deed for Separate or Joint Property to Joint Tenancy fast: Make certain that the document you find is valid in your state. To qualify, IRS Revenue Ruling 87-98 requires spouses to acknowledge in writing to each other that their joint tenancy property is also community property. Unity of time - all joint tenants acquire their interest at the same time 4. Sarah, for example, could have a 40%. Adam practices primarily in the areas of business and family-based immigration, trusts and estate planning, and business planning. Upon the death of an owner, the decedent’s interest ends and the survivor owns the property. Title to real property can be held in joint tenancy by two or more individuals either married or unmarried. Prepare the transfer instrument and file it at the Singapore Land Authority with. How does the state characterize property taken by spouses under a deed reflecting that the property is held in joint tenancy? Strong presumption that it is community property. Comp. To rebut the presumption, a tracing rule is avail-able to taxpayers who can demon-strate that the surviving joint tenant contributed to the acquisition of the property, which allows for an alloca-tion of the property between the two joint tenants based on their respec-tive contributions. property that one spouse owned before the marriage. Posted on Apr 29, 2011. Upon the death of one owner, title automatically goes to the surviving joint owner or owners. The advantage of joint tenancy is that upon death of one of the joint tenants, their interest is transferred outside probate to the surviving joint tenant(s). Updated October 03, 2023. Since no probate was required for property held in joint tenancy (the “right of survivorship” part of joint tenancy means the surviving joint tenant receives the property without having to go through the probate process), most married couples opted for joint tenancy rather than community property. In Kentucky, South Dakota, and. Tenancy in common distributes the. A. When one of them dies, the property passes to that tenant's heirs. Prescott & Yavapai County Probate, Boundary Disputes, Easements, Quiet Title, and Partition Lawyer - GoodmanLaw - call (928) 445-3230 now. 79-372, p. Deed of Trust. Buyouts. As you have learned here already, tenancy in common is an arrangement where two or more people share ownership rights in a property. Property can be owned and managed by both owners by use of trusts. However, if the spouse’s efforts during. Yes. An ‘Affidavit-Death of Joint Tenant,’ executed by plaintiff and appended as an exhibit to plaintiff’s third amended complaint, indicates that the property was acquired by a joint tenancy deed ‘executed by Jettie N. Under certain circumstances, separate property “transmutes” into community property. Arizona adopted a new form of title called. Enter your official contact and identification details. Under §1014(b)(6) the tax basis of the entire property is stepped-up (or down). A5. Joint tenancy with right of survivorship provides another way of holding title to real estate that allows title to pass between joint owners outside probate. A joint tenant can indeed sever the right of survivorship WITHOUT the consent of the other joint tenants. It is an undivided ownership; in other words, all owners own the entire asset. Burden of proving separate property interests. For. Property is either separate property or community property. The primary feature of joint tenancy is the right of survivor-ship, the jus accrescendi. Yes you can deed the property from yourself to you, wife and son just as you say, and the documentary transfer tax will be waived assuming you fill out the Preliminary change of Ownership. Adam practices primarily in the areas of business and family-based immigration, trusts and estate planning, and business planning. This means that when one owner passes away, their share of the property automatically transfers to the surviving owner (s) without going through probate. A separate law called the doctrine of necessaries may obligate you to pay your spouse’s debt. $400,000. Legislative changes in 1973 allowed couples to defeat the community property presumption through form of title, but only for property acquired before 1975, Liu noted. However, the difference between joint tenancy with right of survivorship and community property with right of survivorship is that the joint. Separate Property. 3. R. Other forms of co-ownership include tenants-in-common and a tenancy by the entirety. Note: If a married person enters into a joint. If you are married and own property jointly, you should make sure you have the right form of ownership. MARITAL PROPERTY RIGHTS AND LIABILITIES. John, Ted, and Alice own property as joint tenants. S. But if a couple divorces and the ex-spouses still own the property as joint tenants, California law revokes the ex-spouse's right to receive the property after the other spouse dies. the interest in real property conveyed by a beneficiary deed is the separate property of the named grantee beneficiary and is not community property. Arizona is one of the nine traditional community property states. Community Property and Separate Property In Texas, spouses have separate property and community property. Murin took title to the whole property in the divorce. Sole And Separate Property In New Mexico, property can be owned as separate property, community property, in joint tenancy, or as tenancy in common. 787 (1927), we stated:Locate North Carolina Warranty Deed for Separate or Joint Property to Joint Tenancy samples developed by skilled legal representatives and get away from the high-priced and time-consuming process of looking for an lawyer and after that paying them to draft a papers for you that you can find on your own. A statement that the property was held in joint tenancy, citing the document identification number for the prior deed. For example, if you own a 50% interest as a tenant in common, the beneficiary named in your beneficiary deed becomes a 50% owner on your death. Download the form in the required format. The disclaimer further states that the Grantor will no longer claim any rights in the property sold to. Each party owns a specific, undivided interest in the property. Arizona. (Or, if there are three joint tenants, only at the death of the first two, and so on. For example, say that you have a job earning a regular salary. The law treats this as a rebuttable presumption: it is presumed the asset is held in trust unless it is proven, on a balance of probabilities, that the right of survivorship was gifted to the remaining tenant at the time of the transfer into joint tenancy. 6-2716 and 6-2717. App. Another way to sever a joint tenancy is for one of the joint tenants to simply offer to buy the other joint tenant’s interest in the property. com. Proc. In most states, a property must fulfill the four unities of time, title, interest, and possession under order to be held in joint tenancy. There are three common forms of home ownership. But the idea of separate property isn’t that simple, as it is divided into. Tenants in CommonIn order to own property in joint tenancy, the deed or title must have the words “as joint tenants” or in “in joint tenancy,” otherwise. The most common exemption code related to a divorce is A5, which refers to a conveyance recorded to satisfy a court order. g. 020 3370 8784 / Email Directly. B1. New co-owners of Texas real estate must create a separate survivorship agreement if they want to own the property as joint tenants with right of survivorship. R. A joint tenant can indeed sever the right of survivorship WITHOUT the consent of the other joint tenants. Married persons should be aware of whether the state they live in is a community property state; if it is, the spouse will take some interest in any property acquired during the marriage. Possession: Each owner has the same exact right of possession. - from Nolo dictionary of legal terms, separate property ; ↑ Although joint ownership allows a. However, there are contrary arguments that can be made, including fraud or mistake, or the fact that the community paid the mortgage and other expenses associated with the home. The Brace holding demonstrates that a change in legal title alone cannot alter the community property vs. A property owner can record a deed retitling Wyoming real estate in the name of the owner and another person to create a joint. The concept of a tenancy by the entirety is one of ancient common law origin; it has been described as a form of concurrent ownership that may exist only between coowners who are husband and wife. This is typically between business partners, as well as married couples. In a joint tenancy, two or more persons, known as the co-owners, own property together. Robert Fleming September 18, 2022 Print Article Arizona is one of the minority of states recognizing the concept of community property. Joint tenancy is an arrangement that allows beneficiaries to access your account without having to go to court. The Coon Creek Property. First, the Siberell Court stated that “from the very nature of the estate, as between husband and wife, a community estate and a joint tenancy cannot exist at the same time in the same property. Couples and business partners can take title to each other's bank accounts. You may qualify for the co-tenancy exclusion if you file an affidavit with the county assessor when your brother dies. The common law system provides that property acquired by one member of a married couple is owned completely and solely by that person. (2) Any obligation for support arising out of a prior marriage. I f the properties are community, then the entirety of the Braces ’ interests in the properties becomes part of husband’s bankruptcy estate. Separate multiple values with a space. A6. When a property is held in joint tenancy, it means that two or more people own it equally. The parties were married on February 15. ”. All joint tenants, and their spouses, must sign deeds and contracts to transfer or sell real. Sometimes it is desirable to add someone to the title of a house you own. In Arizona, all property acquired by a couple after marriage is presumed to be community property. How does that impact the person who formerly owned the property alone? When property is titled solely in your name, you alone can sell it or refinance it. The state of Arizona is a community property state. Tenancy by the entirety is the status quo arrangement in many states and the District of Columbia for married spouses who acquire personal property, such as landed assets. App. A person may make up to $13,000 per person in 2011 (andA quitclaim deed to quiet title as described in A. Warranty Deed to Separate Property of one Spouse to both as Joint Tenants: In this type of deed, the separate property of one spouse is transferred to both spouses as joint tenants. Joint Tenancy. S. ” Additionally, the non-owner spouse must sign a disclaimer deed which is also recorded with the proper county. In order to sever the right of survivorship, a tenant must only record a new deed showing that his or her interest in the title is now held in a Tenancy-in-Common or as Community Property. By the intentional act of conveying a deed or giving the property by will or living trust. Edit your joint tenancy deed online. Owners of real property in Wisconsin can hold title in one of three ways: as tenants in common, joint tenants, or, if spouses, as community property (known in Wisconsin as marital property).