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Joint Tenancy is a type of ownership of real or Personal Property by two or more persons in which each owns an undivided interest in the whole. This has a right to surviviorship where by the co-tenant will automatically inherit the property if the other passes.

The benefits of holding a property as tenancy in common come into play when two or more individuals buy a piece of real estate, but each person contributes a different amount of money. In this designation, each party to the transaction holds a fiscally apportioned interest in the property, not a 100% unlimited right to access. You should have a will in place to decide what you want done with your property. If you don't. the other party can easily get the property.

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Q: What is joint tenecy and tenecy common?
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