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Tenancy in Common
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Joint Tenancy
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Community
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Parties
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Two or more persons or entities (can be husband and
wife).
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Two or more persons (can be husband and wife) provided
the tenancy is properly created.
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Only husband and wife.
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Division
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Ownership can be divided into any number of interest
equal or unequal.
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Joint tenants have one and the same interest.
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Ownership interest is equal.
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Title
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Each co-owner has a separate legal title to his/her
undivided interest.
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There is only one title to the whole property.
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Title is in the "Community".
Each interest is separate.
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Possession
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Equal right of possession.
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Equal right of possession.
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Both co-owners have equal possession.
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Conveyance
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Each co-owner's interest may be conveyed separately
by its owner.
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All joint tenants must join in any conveyance document.
Conveyance by one co-owner without the others breaks
his/her joint tenancy.
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Real property requires written consent of other spouse,
and separate interest cannot be conveyed except upon
death.
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Death
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On co-owner's death his/her interest passes by will
the his/her devisees or his/her heirs subject to administration
by the local Supreme Court. No survivorship right.
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On CO-owner's death the entire tenancy remains to
the survivor. This right of survivorship is the primary
incident of joint tenancy.
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On co-owners death 1/2 belongs to survivor in severalty
1/2 goes by will to descendant's devisee's subject
to administration by the local Supreme Court.
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Successor's
Status
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Devisee or heirs become tenants in common.
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Last survivor owns property in severalty.
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If passing by Will, tenancy in common between devisee
and survivor results.
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