REALTOR AND NEW FRIEND
"I cannot thank you enough for all of your help during the selling of our home. We appreciated how up-to-date you kept us on all of the activity of our home. The quickness in which you sold our home, also got us moving. The relentless time you spent showing us homes was so appreciated. You feel like one of the family. Our daughter especially loved seeing you come for a visit. and even call a friend. Your faith and expression of your love for others is a rarity too. We enjoyed seeing you every time. Thank you for all that you have done for us. We will be sure to call upon you if we ever decide to sell again."
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 The way that you hold title to your property has legal, tax, and estate-planning consequences. Many buyers do not receive adequate professional advice on this important aspect of property ownership.
If you are purchasing property by yourself, you will be acquiring title by sole (or "separate") ownership, single ownership, or severalty ownership. The term "severalty" does not denote more than one person - it is a legal term meaning that sole ownership is severed from all other forms of ownership.
If you are purchasing property with others, the most common forms of co-ownership are tenancy in common, joint tenancy, and community property. Tenants in common can be created when two or more related or unrelated people hold title to a property either equally or unequally. Each individual has the right to do whatever he wishes with his interest in the property. For example, he can sell his interest, give it away, or will it to someone else.
Before you take title, you should seek advice from your tax advisor and an attorney, particularly if you are buying the property with another person.
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| Q |
What might happen to the Empire State Building in extreme weather?
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| A |
The Empire State Building can sway several feet to either side when buffeted by a severe windstorm or rainstorm. |
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