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Forms of Ownership


There are several forms of fee simple ownership:


Tenants in Common

A form for taking title when two or more people buy property and own it together with either equal or unequal shares.  If any one of the tenants in common dies, the interest passes to the heirs, not to the remaining tenants.


Survivorship Tenancy

(Joint and Survivorship)

Two or more persons may acquire title to real estate.  Each has an undivided percentage of interest.  Upon death of one of the joint tenants, that particular interest automatically passes to the surviving tenants.


Estate by the Entireties

Repealed as of April 4 1985


Transfer on Death Beneficiary

Effective in 2000, the property owner may designate by recording a Transfer on Death Designation Affidavit listing one or more parties who should receive title after the property owner is deceased.  The party or parties who are listed on the affidavit are known as the Transfer on Death Beneficiaries.  Title to the property does not pass or vest in the Transfer on Death Beneficiaries until the owner dies. The owner can sell or mortgage the property without the consent of those beneficiaries. When the property owner dies, the beneficiaries need to record an Affidavit for Transfer on Death together with a certified copy of the death certificated for the property owner.


Contact your attorney for more information or a more detailed explanation regarding how title can be vested.

Types of Deeds


General Warranty Deed

This is the most common form of deed in Ohio.  The seller warrants title to be free and clear except as stated in the deed.  The seller takes on responsibility for soundness of the entire chain of title.  Although the seller’s warranties are desirable, title insurance has reduced their importance.  Buyers and lenders generally rely on title insurance to protect investments.  Therefore, title insurance is also a benefit to the seller as it may reduce actual exposure if old title defects arise.


Limited Warranty Deed

In Special circumstances, the seller only warrants title as to the period that he or she held title and is not responsible for matters previous to the seller’s acquisition.  A Limited Warranty Deed is often used on a commercial transaction where the seller and buyer agree to rely on title insurance for protection but require the seller to account, if necessary, for matters occurring during the seller’s ownership.  This form of deed may also be used when the seller is not in a position to make warranties as to the entire history of the title.


Quit Claim Deed

This is the simplest form of deed as it only conveys whatever interest the seller owns or may own.  No warranties are expressed or implied.  The buyer may not have recourse against the seller for defects in title, therefore title insurance is advisable whenever a buyer accepts a Quit Claim Deed.  This deed is typically used to clear a cloud on title or as a result of a court decree, such as a divorce decree.


Special Purpose Deed

Other types of deeds are necessary under particular situations, but since their application is limited, no description needs to be given here.  Such special purpose deeds include Sheriff’s Deed (foreclosure), Auditor’s Deed (tax sale) and Fiduciary Deed (Probate, Executors, Administrators, Guardians, Receivers, Commissioners, Trustees, and Bankruptcy).


Contact your attorney for advice regarding the deed form that should be used.

Miller Home Title  |  5326 Detroit Road  |  Sheffield Village Ohio 44035  |  (440) 934-3003 Office  |  800-745-0001 Fax  |

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