As we have learned in the chapter on the types of property interest, most state laws classify an owner's interest in property is simply based on how the property is held (referred to as legal form of ownership) by the owner(s). Common among these legal forms of ownership are sole ownership in fee, tenancy in common, joint tenancy, tenancy by the entirety, and community property?

Assuming you and your spouse or partner are preparing to purchase your first residence,What legal form of ownership would you suggest (assuming you live in the state of Oregon)? Why?

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In the state of Oregon there are several options for legal forms of ownership when purchasing a firs... View the full answer