In the state of Nevada there is a variety of ways to hold title Rick talks about the most common ways used here in Nevada. First one is Tenants in Common it is basically described as ownership divided by a percentage is the best way to be able to explain that. Ownership when one of them passes away it will have to go through probate. Second is Joint Tenants works or the way Ricks calls it “the last man or woman standing” it needs to be two or more people and as individuals pass away then the ownership is now divided among the remaining living people. It will continually go down the chain until the last person is standing and will own 100% of that property. A way to avoid probate a couple should put it in a trust and that is another form of how title can be hold. Stay tuned to hear more!
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