This regularly-scheduled sponsored Q&A column is written by Will Wiard, Arlington-based real estate broker, voted one of Washington’s Best Realtors of 2015 by Washingtonian. Please submit your questions via email.
Q: My girlfriend and I are thinking about buying a home. We both have steady jobs and have watched the market closely. We think a condo would be best, but are unclear about owning a place together because we aren’t married. What are our options?
A: If you’re purchasing a property in Virginia you have a few options for holding a title together. Make sure to review and identify the option that works best for all parties involved.
Tenancy in common is a form of ownership most common when a property purchase involves more than one person. It is possible to involve more than two people in this agreement, as well, and either share equal ownership or divide it up in a way agreed upon by all parties. Additionally, in most cases under tenancy in common, an individual can sell their interest without the approval from the other owners. Should an owner pass away, the property can be transferred to someone else through a will or heirs.
Joint Tenancy is when two or more people have equal interest in and possession of the property. If a property is owned under “joint tenancy with the right of survivorship,” then in the event one person passes away the other will automatically gain ownership of the premises. An owner can also seller their interest to a third party.
Tenancy by the entirety is a special form of joint tenancy reserved for a couple that is married and considers them as a whole. Both parties have equal ownership of the property and a right of survivorship. Neither party can sell their interest without the other.
It’s important to review the different types of ownership before closing on a property and understand that each type has options. If anyone would like additionally information on other types of ownership or would like to be connected to a title company that can assist them, please reach out to me.
Thank you for this week’s question. Please keep them coming to [email protected]. This is also a great place to reach me for anyone looking to buy or sell a home in the Arlington area.
The views and opinions expressed in the column are those of the author and do not necessarily reflect the views of ARLnow.com.
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Synetic Theater Camps are a wildly fun, highly accessible choice for young people who love moving, playing games, and making memories. Registration is open now for Summer Camps (sessions June 20-August 25) and there are even a few spots left for Spring Break camp, April 3-7.
Located in National Landing, these performance-based camps are designed for students of all ages – no theater or performance experience required.
Led by professional teaching artists, campers learn acting, movement, and technical theater skills through the lens of Physical Theater. Physical Theater incorporates acting, movement, dance, mime, and acrobatics. If you’ve seen a Cirque du Soleil performance, you’ll find many similarities.
Most first-time campers are new to the performing arts, and teaching artists are well-versed in engaging students at all levels. Parents and campers report that one of the best parts of Synetic is the community, with many families returning year after year because they feel a strong sense of belonging.
EDBS Dental Billing Solutions is pleased to announce that it has achieved compliance with the federally mandated standards of the Health Insurance Portability and Accountability Act (HIPAA) through the use of Compliancy Group’s proprietary HIPAA methodology, The Guard® compliance tracking software, and HIPAA Seal of Compliance®.
The HIPAA Seal of Compliance is issued to organizations that have implemented an effective HIPAA compliance program through the use of The Guard, Compliancy Group’s proprietary compliance tracking solution.
Clients and patients are becoming more aware of the requirements of HIPAA compliance and how the regulation protects their personal information. Forward-thinking providers like EDBS Dental Billing Solutions choose the HIPAA Seal of Compliance to differentiate their services.
“Since the nature of our business being exclusively remote, we take HIPAA compliance very seriously. With the help of Compliancy Group, we are able to take steps to fortify our systems to protect PHI information and familiarize each employee about HIPAA and how we can further safeguard PHI data.” said EDBS Dental Billing Solutions founder Goldie De Leon.
WHS Spring Festival
Join us at the WHS Spring Festival on April 22, 2023, from 10am- 3pm at Wakefield High School(main parking lot). Come out to shop, play, and eat!
Shop local vendors, arts & crafts, new and used items, food vendors/trucks, and
District 27 Toastmasters 2023 Virtual Conference
District 27 Toastmasters invites you to its annual conference where you can hear phenomenal speakers, attend professional development and personal growth seminars about leadership, negotiation, communication, teamwork, and mentorship. Learn how to develop your personal story and how to improve