A Single Man or Woman – A single individual that has neither been married or divorced
An Unmarried Man or Woman – A single individual either once married or widowed.
A Married Man/ Woman (or Domestic Partner) as His/ Her Sole and Separate Property – A married individual or domestic partner that would prefer to take title individually in their name alone.
Open a Standard Joint Account for two or more people. This general investing account may be used to self-manage a diversified portfolio. This account is eligible for Church Capital’s available trust deed investments. Some services and investment opportunities are subject to approval.
Co-Ownership Vesting Options:
Community Property- Owned together by a married couple or domestic partners. Each spouse has equal rights of control and the right to include their half in a will. Vesting including the right of survivorship results in one spouse’s interest being passed directly to the other in the event of death without probate.
Joint Tenancy – Two or more persons holding title with equal interests subject to the right of survivorship. If a joint tenant were to die, the interest would be passed automatically to the surviving joint tenants.
Tenancy in Common – Two or more persons own undivided interests that may be in unequal interests or duration. Each individual owns a particular share and is entitle to that share’s income and expenses. Each tenant may sell, deed, lease or will their portion.
Corporate Account
Purchase of an investment by a corporation requires a copy of the Articles of Incorporation and By-Laws and a corporate resolution authorizing the transaction.
Trust Account
This is typically either a family trust, testamentary trust, or an irrevocable trust. The investment is owned by the trust and controlled by the trustee who must be authorized by the trust document to enter into and manage the transaction. Church Capital requires a copy of the trust pages that create this authorization.
Limited/ General Partnership Account
One or more general partners and typically many limited partners. Only the general partners can bind the partnership and are liable for partnership debts.
Purchase of an investment by an LLC requires a copy of the Articles of Organization and signature of its Manager, Managing Member, or other authorized members.
REITS
Mortgage Pools
Institutional Lenders
401k Plans
Remember: How title is vested has important legal and tax consequences. Church Capital recommends that every investor consult their attorney and/ or tax adviser to determine the most advantageous form of taking title.
Lenders are required to meet either of the following financial suitability standards:
• The investment in the transaction does not exceed 10% of the net worth of the investor, exclusive of home, furnishings, and automobiles; or
• The investment in the transaction does not exceed 10% of an investor’s adjusted gross income for federal tax purposes for the last tax year or, in the alternative, as estimated for the current year.
*These requirements are per an investment and not in regards to an investor’s entire loan portfolio.
