Property Analysis, Essay Example

Chain of Title

The address that I have chosen for analysis is 59 Amherst Street in Lawrence, Massachusetts. The most recent deed available for this address is for the year 2009, when the property was exchanged between two individual owners. The next previous transaction occurred in 2002 when the individual acquired the property from a group tenancy of three guarantors. In the year 2000, one of the three group members became the individual owner (apparently becoming a tenant later) in a transaction with another individual owner. Finally, a 1997 exchange between individual owners is the oldest record of deed transfer available for this address.

Types of Ownership

In my estimation, being an individual owner is the riskiest situation in which one can own a property. In joint or group tenancy conditions, there are multiple members to absorb potential losses and to minimize personal risk. As a sole owner, the title holder becomes the lone target for legal issues and otherwise.

Another consideration is that joint or group tenancy limits your ownership capabilities and can ultimately leave you on the outside looking in. Such ventures should only be taken with trusted business partners. The risk of outside harm is minimized in joint and group ventures, but much harm can still be caused by bad partnerships.