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TENANCY IN
COMMON |
JOINT TENANCY |
COMMUNITY PROPERTY |
COMMUNITY PROPERTY
WITH RIGHT OF SURVIVORSHIP |
Parties |
Any number of persons
(can be husband and wife) |
Any number of persons
(can be husband and wife) |
Only husband and wife |
Only husband and wife
and only when interest is created on or after July 1,
2001 |
Division |
Ownership can be divided
into any number of interests, equal or unequal. |
Ownership interest cannot
be divided |
Ownership interest are
equal |
Ownership interest are
equal |
Title |
Each CO-tenant has a
separate legal title to his undivided interest |
There is only one title
to the whole property. |
Title in the "Community."
(Similar to title being in a partnership). |
Title in the "Community."
(Similar to title being in a partnership). |
Possession |
Equal right of possession. |
Equal right of possession. |
Equal right of possession. |
Equal right of possession. |
Conveyance |
Each CO-owner's interest
may be conveyed separately by it's owner. |
Conveyance by one CO-owner
without the others breaks the joint tenancy. |
Both CO-owners must join
in conveyance of real property. Separate interests cannot
be conveyed. |
Both CO-owners must join
in conveyance of real property. Separate interests cannot
be conveyed. |
Purchaser's Status |
Purchaser becomes a tenant
in common with the other CO-owners |
Purchaser becomes a tenant
in common with the other CO-owners |
Purchaser can only acquire
whole title of community. Cannot acquire a part of it. |
Purchaser can only acquire
whole title of community. Cannot acquire a part of it. |
Death |
On CO-owners death, his
interests passes by will to his devisees or heirs. No
survivorship right |
On CO-owners death, his
interest ends and cannot be willed. Survivor owns the
property by survivorship. |
On CO-owners death, 1/2
goes to survivor in severalty. Up to 1/2 goes by will
or succession to others. (Consult attorney with specific
questions). |
On CO-owners death, descendants
interest ends and cannot be willed. Survivor owns the
property by survivorship. |
Successor's Status |
Devises or heirs become
tenants in common. |
Last survivor owns property
in severalty. |
If passing by will, tenancy
in common between devisee and survivor results. |
Last survivor owns property
in severalty. |
Creditor's Rights |
CO-owner's interest may
be sold on execution sale to satisfy his creditor. Creditor
becomes a tenant in common. |
CO-owner's interest may
be sold on execution sale to satisfy creditor. Joint tenancy
is broken, creditor becomes tenant in common. |
CO-owners interest cannot
be seized and sold separately. The whole property may
be sold to satisfy debts of either husband or wife depending
on the debt. (Consult attorney with specific questions). |
CO-owners interest cannot
be seized and sold separately. The whole property may
be sold to satisfy debts of either husband or wife depending
on the debt. (Consult attorney with specific questions). |
Presumption |
Favored in doubtful cases
except husband and wife. (See community property) |
May be expressly stated
and properly formed. Not favored. |
Strong Presumption that
property acquired by husband and wife is community. |
Strong Presumption that
property acquired by husband and wife is community. |