Warranty Deed Form

Overview of Joint Tenants For example, joint tenants must all take title simultaneously from the same deed while tenants in common can come into ownership at different times. Another difference is that joint tenants all own equal shares of the property, proportionate to the number of joint tenants involved.

In estate law, joint tenancy is a special form of ownership by two or more persons of the same property. The individuals, who are called joint tenants, share equal ownership of the property and have the equal, undivided right to keep or dispose of the property. Joint tenancy creates a Right of Survivorship.

With a Survivorship Deed in place, when one of the parties in a joint tenancy dies, the other party (or parties) takes over the deceased party's interest in the property instead of it passing to the deceased's heirs or beneficiaries.

For example, joint tenants must all take title simultaneously from the same deed while tenants in common can come into ownership at different times. Another difference is that joint tenants all own equal shares of the property, proportionate to the number of joint tenants involved.

A Married Man/Woman, as His/Her Sole and Separate Property: When a married man or woman wishes to acquire title as their sole and separate property, the spouse must consent and relinquish all right, title and interest in the property by deed or other written agreement.

In California, most married couples hold real property (such as land and buildings) as joint tenants with right of survivorship.For instance, many married couples share real property as joint tenants. This way, upon the death of a spouse, the surviving spouse will own 100% share of the property.

One of the main differences between the two types of shared ownership is what happens to the property when one of the owners dies. When a property is owned by joint tenants with survivorship, the interest of a deceased owner automatically gets transferred to the remaining surviving owners.

If you look at the registered title to your own jointly owned property and the text isn't shown on it, you own it as joint tenants. If it is there, you own it as tenants-in-common.

One of the main differences between the two types of shared ownership is what happens to the property when one of the owners dies. When a property is owned by joint tenants with survivorship, the interest of a deceased owner automatically gets transferred to the remaining surviving owners.