(1) Brand ownership is valid only if the owner's name is recorded in the department.

(2) Names may be recorded in the following manner only: "x and y", or "x or y"; the designation "and/or" is not acceptable.

(a) A brand recorded in "x and y" designates tenants in common.

(b) A brand recorded in "x or y" designates joint tenancy with right of survivor ship.

(3) A brand may be transferred only if the signatures of all recorded owners or their assignees appear on the transfer.