Joint Tenancy
Joint tenancy is a form of property co-ownership where two or more people hold equal, undivided interests with the right of survivorship, meaning when one owner dies, their share automatically passes to the surviving owner(s).
Exam Tip
Joint tenancy needs 4 unities: TTIP (Time, Title, Interest, Possession). Right of survivorship = bypasses probate!
What is Joint Tenancy?
Joint tenancy is a form of concurrent property ownership where two or more people share equal ownership with the right of survivorship. When one joint tenant dies, their interest automatically passes to the surviving joint tenantsāNOT through probate or to their heirs.
The Four Unities (Required for Joint Tenancy)
All four "unities" must be present to create joint tenancy:
| Unity | Requirement |
|---|---|
| Time | All owners acquire interest at same time |
| Title | All owners acquire through same deed/document |
| Interest | All owners have equal shares |
| Possession | All owners have equal right to possess entire property |
Right of Survivorship
The key feature of joint tenancy is the right of survivorship:
- When a joint tenant dies, their share transfers immediately to survivors
- Does NOT go through probate
- Does NOT go to deceased's heirs or estate
- Overrides the deceased's will
Example
Three siblings own a home as joint tenants:
- Each owns 1/3 interest
- Sibling A dies
- Siblings B and C now own 50% each automatically
- A's heirs get nothing (regardless of A's will)
- When B dies, C owns 100%
Joint Tenancy vs. Tenancy in Common
| Feature | Joint Tenancy | Tenancy in Common |
|---|---|---|
| Equal Shares | Required | Not required |
| Right of Survivorship | Yes | No |
| Probate | Avoided | Required |
| Can Will Share | No | Yes |
| Unities Required | All 4 | Only possession |
How to Sever Joint Tenancy
Joint tenancy can be broken (converting to tenancy in common) by:
- Sale of one owner's interest
- Gift of one owner's interest
- Partition action (court division)
- Mutual agreement of all owners
Joint Tenancy vs. Tenancy by the Entirety
| Feature | Joint Tenancy | Tenancy by Entirety |
|---|---|---|
| Who Can Own | Any two or more people | Married couples only |
| Survivorship | Yes | Yes |
| Can One Owner Sever | Yes | No (needs both spouses) |
| Creditor Protection | Limited | Stronger (in some states) |
Exam Alert
Joint tenancy requires ALL FOUR UNITIES. The right of survivorship is automatic and overrides wills. Selling or gifting your interest SEVERS joint tenancy and creates tenancy in common.