Did you know there are many different ways you can own your home? The most common ways include owning the home yourself, with other people (joint ownership or tenants-in-common, also known as TIC), or a living trust if you already have one set up. The way you title your home – or if there’s a gift involved in any of the process – can have consequences not only on your ownership but what happens to your home in the future.
How your home is titled can have huge implications for your long-term estate planning goals, so it’s important to be familiar with the various types of ownership. How is your home ownership IQ? Take our quiz to find out, and to determine what type of ownership is best for your situation.
Please note, this quiz is designed to help you start thinking about home ownership and titling, and should not be used as any sort of definitive guide.