Primary Owner / Secondary Owners on home

**steven3h** · 06-01-2009, 11:32 PM

If I purchase a home with someone else (joint tenants, but not married yet), is there any advantage or disadvantage of being a primary owner instead of a secondary owner?

Also, if we set it up with myself as the primary and person #2 as the secondary, can we switch it at anytime? Or do we have to wait until buying another place to do so? (If it matters, I live in California)

**REITrainingWhse** · 06-03-2009, 01:35 PM

Originally Posted by steven3h

If I purchase a home with someone else (joint tenants, but not married yet), is there any advantage or disadvantage of being a primary owner instead of a secondary owner?

Also, if we set it up with myself as the primary and person #2 as the secondary, can we switch it at anytime? Or do we have to wait until buying another place to do so? (If it matters, I live in California)

WHAT THE HECK ARE YOU TALKING ABOUT?

Primary owner? Secondary Owner? You are either on the deed or not, there is no such thing as primary owner and secondary owner. Both are owners, and have the same rights as each other. Maybe I am missing something, maybe there is something strange that you can do that I am not aware of, but I never heard of a primary or a secondary owner. Now, if you put the title under a trust, and you have a primary beneficiary and then a secondary beneficiary then that is totally a different story.

Please clarify, as I am very confused.

Later!

**craig** · 06-04-2009, 10:23 AM

There are different types of ownership as you had mention it will be joint tenacy.
Others being tenants in common, tenants of entirety, sole ownership, etc.. This just tells you how property is passed on after a dead or selling your interest.

You could be the 10th person listed on the deed and it doesn't matter. The 1st person doesn't have any greater interest in the property.