![]() ![]() ![]() ![]() When someone with multiple children is planning his will, he may consider drafting up a deed that names the children as joint tenants of his property. The tenants in common can then pass on their ownership interests to whoever they want, if they wish to dispose of it, and all of the original owners plus the new owners will be tenants in common together. If this happens, then all of the parties to the joint tenancy actually become tenants in common. For example, joint tenancy is broken if one of the parties transfers his ownership to another person who is not part of the joint tenancy. Another difference is that, while ownership is automatically granted to the other person in a joint tenancy, in a tenants in common situation, the deceased’s ownership interest is instead transferred to his estate.Īnother difference between joint tenants and tenants in common is the way in which property can be passed on to different owners. Each of the owners of that property are then granted specific inheritance rights in the event that one of the other owners of the property passes away. For example, joint tenancy ownership must be evenly split among the parties, while tenants in common may be divided into multiple ownerships of varying percentages. While the two concepts may sound similar, there are differences between joint tenants and tenants in common. ![]() Difference between Joint Tenants and Tenants in Common ![]()
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