What is Joint Tenancy and What is Tenants In Common

The chief difference between joint tenants and tenants in common is the right of survivorship. If one joint tenant dies, the property automatically belongs to the other owner or owners, avoiding probate. If three people own it and one dies, the two surviving owners each become owners of an undivided one-half interest. But if the owners are tenants in common, the other owners have no rights of survivorship–they would receive the deceased’s interest in the property only if it was specified in his or her will or by inheritance.

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