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mLine 9:
Line 9: − For example, a parent dies, leaving in his will his interest in the family home to his three children equally. The siblings all acquired the property via the will ("title") at the time it was probated ("time"), each acquired an undivided 1/3 share ("interest") and each can occupy and use the property as desired ("possession").+
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*Possession - each and every co-owner must have the same right to possess and use the entire property as the others.
*Possession - each and every co-owner must have the same right to possess and use the entire property as the others.
As an example, a parent dies, leaving in his will his interest in the family home to his three children equally. The siblings all acquired the property via the will ("title") at the time it was probated ("time"), each acquired the same undivided 1/3 share ("interest"), and each can occupy and use the property as desired ("possession").
If at any time one co-owner sells his/her interest apart from the other, the joint tenancy ends and converts to a [[tenancy in common]].
If at any time one co-owner sells his/her interest apart from the other, the joint tenancy ends and converts to a [[tenancy in common]].