The Real Estate Encyclopedia
What Types Of Joint Tenancy Are There?
Category - Real Estate Information Sources - General Real Estate Information

Joint Tenancy - An estate or unit of interest in real estate that is owned by two or more natural persons with rights of survivorship.  Only one title exists, and it is vested in a unit made up of two or more persons, all owning equal shares.  Title is held as if all owners constituted one unit or a fictitious entity. 

 

Tenancy in Common - A form of concurrent ownership of property between two or more persons, in which each has an undivided interest in the whole property.  This form is frequently found when the parties acquire title by descent or by will.  Each co-tenant is entitled to the undivided possession of the property, according to his or her proportionate share and subject to the rights of possession of the other tenants.  Each co-tenant hold an estate in land by separate and distinct title, but with unity of possession. 

 

Tenancy by the Entirety (Entireties) - A special joint tenancy between a lawfully married husband and wife, which places all title to property (real or personal) into the marital unit, with both spouses having an equal, undivided interest in the whole property. 



References
 
Category(s)
Home Buying Questions - Buying Legal & Closing FAQ's
Home Ownership Questions - General Home Ownership FAQ's
Real Estate Information Sources - General Real Estate Information
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