Legal Question in Real Estate Law in California

Re: Title vesting for 2 single people to avoid probate upon death

Avoiding probate is a worthy goal. However, you also must consider what will happen if your relationship with your boyfriend does not last. I have seen too many cases where one person, usually the woman, has put her significant other on title, and then has a big problem when he leaves. If you were married, the family law courts would offer a little protection. Since you are not, you have no protection at all.

Probably the best solution is to create a living trust, with your boyfriend as a beneficiary in case of your death, and deed the property to the trust. Then, if your relationship ends, you can simply amend the trust to change the beneficiary. If you are still together and you die first, the property will go to him as the beneficiary of the trust. If not, it will go to whomever the trust names.

See a lawyer who is experienced in estate planning to discuss forming a living trust.

Re: Title vesting for 2 single people to avoid probate upon death

Sorry to sound like a lawyer, but I'd have to agree that instead of a joint tenancy deed ("X and Y as joint tenants", which is what you're referring to), you really should have an agreement with your boyfriend and hold the property as tenants in common according to your ownership interest. The agreement can cover things like how much each party owns, how much each will contribute to the mortgage, who pays what for maintenance/taxes/etc., and what happens if one of you moves out.

You can avoid probate with a living trust. It does cost more, but it also protects you if the relationship doesn't work out--you can change the trust easier than you can change the deed.

Re: Title vesting for 2 single people to avoid probate upon death

The trust arrangement suggested by Mr. Snitow is certainly the best way to go, and is preferred by property owners whose status is 'sole owner' and 'married couple' as well as unmarried couples due to probate avoidance.

I don't know your ages or income situation, but you may want to consider life insurance to pay off the mortgage if the (or a) principal breadwinner dies first.

If you do not use a trust, you should hold title as "X and Y, as joint tenants with right of survival."

Trusts are very flexible instruments and can be designed to fit the situation. Because of this, drafting the trust is likely to require you and your boyfriend to answer questions for the drafter about some pretty basic stuff that can affect your rights later on, upon becoming incorporated into the trust.