The legal concept of ownership. "Holding title" means having the legal right to possess and control the property. Different from the deed (which documents the transfer).
Title is the legal right of ownership in a property — the bundle of rights that includes possession, use, and the right to sell. "Title" is a concept; the deed is the document that proves it.
When buyers "take title," they decide how to legally hold ownership. The most common forms:
Sole ownership: one person owns. Simple.
Tenants in Common: two or more owners with separate, transferable shares. Each owner's share passes through their estate when they die.
Joint Tenancy with Right of Survivorship: two or more owners with equal shares. When one dies, the survivor automatically owns 100% (bypasses probate).
Tenants by the Entirety: only available to married couples in some states. Strongest creditor protection; one spouse can't sell without the other.
How you take title affects taxes, inheritance, and divorce — worth a real conversation with your real estate attorney before closing, especially with multiple buyers.
Example
A married couple buying in Texas takes title as "husband and wife, as community property with right of survivorship." If one dies, the survivor automatically owns the home without probate. Their adult children inherit later through the survivor's estate.
Also known as
title to property, ownership title, legal title