Changes

'''Joint tenancy''' is a form of legal co-ownership of [[property]] which typically includes a right to [[survivorship]]. With a right to survivorship, at the death of one co-owner the surviving co-owner becomes sole owner of the property. A joint tenancy is created where the co-owners share "four unities":  

'''Joint tenancy''' is a form of legal co-ownership of [[property]] which typically includes a right to [[survivorship]]. With a right to survivorship, at the death of one co-owner the surviving co-owner becomes sole owner of the property. It is sometimes referred to as "joint tenancy with right of survivorship" or abbreviated JTWROS.

 

A joint tenancy is created where the co-owners share "four unities":  

*Time - the property must be acquired by the co-owners at the same time.

*Time - the property must be acquired by the co-owners at the same time.

*Title - each co-owner must acquire the property from the same document.

*Title - each co-owner must acquire the property from the same document.

*Interest - each co-owner must own the same share of the property and with the same restrictions or conditions.

*Interest - each co-owner must own the same share of the property and with the same restrictions or conditions.

*Possession - each co-owner must have the same right to possess and use the entire property.

*Possession - each co-owner must have the same right to possess and use the entire property.

Tenancy by the entirety is a special form of joint tenancy between a husband and wife. [[Category:Legal Terms]]

 

Tenancy by the entirety is a special form of joint tenancy between a husband and wife.

 

[[Category:Legal Terms]]