Joint Tenants vs Tenants in Common
Joint Tenants are joint property owners.
This means that when one owner passes away the property ownership will automatically be assumed by the surviving owner.
Tenants in Common is a share in a property.
There can be multiple shares, and therefore multiple owners of the respective property, When an owner of a share dies, it is transferred according to their will or the rules of intestacy.
Disclaimer: This publication is intended for general and informative use only and is not to be relied upon as professional financial or legal advice.
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