Philadelphia Business Daily

When do I pick my form of ownership for purchase of a new home?

My wife and I are purchasing a new home. When do we choose our type of ownership example; joint tenancy, co-ownership etc? Is it on the deeds before we close or after or?

Public Comments

1. You will need to decide that prior to closing. At your closing, all the documents will be drafted and ready to sign. If you have a realtor you can give the information to the realtor who will forward it on to the closing agent (a real estate attorney or a notary most commonly). If you do not have a realtor, you can give the information to your loan contact who can provide it to the closing agent. If you have neither, you would give this directly to your closing agent prior to closing so they can have everything drafted and ready to sign by your closing appointment. It's best to talk to a real estate attorney to explain the different options to you, and if you have any limitations in your state.
2. contact the closing company and tell them what you want. it becomes final at the closing