Thus, in the list above, the last three (joint tenancy, tenancy in common, and tenancy in the entirety) involve joint possession. Types of ownership and tenancy include tenancy in common and joint tenancy. Strata title, similar to a group title define the property as the airspace occupied by each unit, with common areas such as gardens and stairwells that are shared by each owner. When the conditions on the sale contract have been met, legal title passes to the buyer in what is known as closing. Strata title. When a contract for the sale of land is executed, equitable [interest/title] passes to the buyer. The search will include public records and other land records spanning many years. Issued in paper or digital format, the Certificate of Title provides a record of the ownership of a defined land parcel, and the lodged or registered interests or claims (encumbrances) against that ownership. A validly existing marriage is a prerequisite for this type of title. They have been in the industry for several years now and had served numerous satisfied corporate clients and individual property owners. You might be surprised to learn that over one-third of all title searches uncover some kind of problem. If you are not married to the person with whom you are planning to share joint ownership of an asset, then joint tenancy is likely not the best type of ownership for the assets. The Title Search on this website is $44.00 instead of $12.15 for the same report from this government Land Title Search website. An official title to land, or certificate, transferring land from a colony, state, or other governmental body to an individual; transfers ownership from the government to the private sector. 2 Certificate of Title. A title investigator looks for any claims to the title that may affect your purchase. An official document indicating ownership of land is issued in the form of a Certificate of Title. All four versions of the Contract to Buy and Sell Real Estate allow for a choice in the way in which two or more Buyers can take title to the property purchased. 3. … Land Title Guarantee Company was founded in Denver in 1967. As a result, other ownership forms must be utilized to minimize taxes and avoid probate. When you buy land in Australia, the most common type of property type is Torrens title or 'Freehold', because you’re buying both the land and the property or the land … Torrens title is commonly used for land or houses. At common law equitable title is the right to obtain full ownership of property, where another maintains legal title to the property.. They include: Torrens title. Also Avoid This $66 Title Search Report (can get for $12.15) This historical title search is $66.00 dollars, again this report is just $12.15 on our government website. This is a type of Torrens title which commonly refers to unit, apartment or townhouse properties. 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