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Conveyances may occur in full or an owner may choose to transfer only a portion of their ownership interest. When a pronoun and a name are involved in joint possessives, things get messy if you try to leave the first noun unmarked for possession.One apostrophe on the last subject indicates joint ownership, which means that all members of the compound subject own the object. Joint tenancy is a legal arrangement in which two or more people own a property together, each with equal rights and obligations. To make two nouns show joint possession, add an apostrophe only to the second unit. In other words, joint tenants share an equal interest in the ownership of the entire property. When one of the joint owners dies, the surviving owner immediately acquires sole ownership of the asset. There is no probate at the first death. Joint Tenancies are co-ownership interest in real property. How does a change in ownership affect property taxes?