My options are tenants by entirety or joint tenants with rights of survivorship or tenants in common...

I haven't read title iv in its entirety but I think it's time anyone with available capital relative to their income is allowed to make an educated investment in anything they choose. it will give the "little fish" the chance to participate in the "free" market rather than believe and act in a manner that intimates they will never have the opportunity. if the solicitating party sets the investment minimum at a level that limits entry to the market that's fine too but this is a potential opportunity for everyone

If the ownership was joint ten with rights of survivorship or tenants by the entireties, most states allow an affidavit and death certificate and when filed of record it will clear first wife off the title, if there is no will and the guy had no children of his own then current wife would get everything.

If one joint owner is sued or declares bankruptcy, that person's share of the property is exposed.Joint tenancy with right of survivorship means that upon the death of one owner, title passes in its entirety to the surviving owner(s).  

Keep in mind drawings and plans have to be submitted in their entirety to the city and permits approved and paid for before I can even knock the house down.

@Kathleen Wilcox be really cautious about offering a 5 year lease with option, Due on Sale Clause IssuesHere are the exemptionsd) Exemption of specified transfers or dispositions With respect to a real property loan secured by a lien on residential real property containing less than five dwelling units, including a lien on the stock allocated to a dwelling unit in a cooperative housing corporation, or on a residential manufactured home, a lender may not exercise its option pursuant to a due-on-sale clause upon—(1) the creation of a lien or other encumbrance subordinate to the lender’s security instrument which does not relate to a transfer of rights of occupancy in the property;(2) the creation of a purchase money security interest for household appliances;(3) a transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety;(4) the granting of a leasehold interest of three years or less not containing an option to purchase;(5) a transfer to a relative resulting from the death of a borrower;(6) a transfer where the spouse or children of the borrower become an owner of the property;(7) a transfer resulting from a decree of a dissolution of marriage, legal separation agreement, or from an incidental property settlement agreement, by which the spouse of the borrower becomes an owner of the property;(8) a transfer into an inter vivos trust in which the borrower is and remains a beneficiary and which does not relate to a transfer of rights of occupancy in the property; or(9) any other transfer or disposition described in regulations prescribed by the Federal Home Loan Bank Board.

Bill Gulley thank you for the time, that's what I am attempting to do here -> become informed so that I can move on and actually get into this business past the forum chatter.So I apologize if I'm misunderstanding the entirety of your post, and definitely appreciate all efforts to clear it up and set me on the straight path. 

Here is an excerpt from @Clint Coons regarding the due-on-sale clausehttp://www.alglaw.com/service/view/land_trustsWith respect to a real property loan secured by a lien on residential real property containing less than five dwelling units, including a lien on the stock allocated to a dwelling unit in a cooperative housing corporation, or on a residential manufactured home, a lender may NOT exercise its option pursuant to a due-on-sale clause upon:(1) the creation of a lien or other encumbrance subordinate to the lender's security instrument which does not relate to a transfer of rights of occupancy in the property;(2) the creation of a purchase money security interest for household appliances;(3) a transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety;(4) the granting of a leasehold interest of three years or less not containing an option to purchase;(5) a transfer to a relative resulting from the death of a borrower;(6) a transfer where the spouse or children of the borrower become an owner of the property;(7) a transfer resulting from a decree of a dissolution of marriage, legal separation agreement, or from an incidental property settlement agreement, by which the spouse of the borrower becomes an owner of the property;(8) a transfer into an inter-vivos trust in which the borrower is and remains a beneficiary and which does not relate to a transfer of rights of occupancy in the property; or(9) any other transfer or disposition described in regulations prescribed by the Federal Home Loan Bank Board.So, like K.

As with any deal, the entirety of the agreement should be laid out in the P&S agreement for all to see.

Deirdre Brown, would you have a link or the name of the cases regarding the tenants by the entirety not automatically also having the right of survivorship in Virginia?