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williamdona2001 · Joined: 31 Jul 2009 Posts: 54 0.00 Dollars($)

What is the difference between Joint Tenancy & Tenants in Common?

Are they referring to same term?

adonis · Posted: Sun Aug 02, 2009 9:46 pm Post subject:

A joint tenancy is a way for two or more people to share ownership of real estate property or any other property. In this situation, if one of the owners dies, then the other owners automatically own the deceased owner's share. This is also known as joint tenancy with right of survivorship. In such a situation, no will is required to transfer the property and thus the property goes directly to the surviving joint tenants.

On the other hand, tenants in common is one of the ways to hold title and own property by two or more individuals. Such a kind of ownership is known as Tenancy in Common. A property held by tenants in common can be owned by two owners or more than 100 owners.

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