| TENANCY IN COMMON | JOINT TENANCY | COMMUNITY PROPERTY | |
| Parties | Any number of persons. (Can be husband & wife) | Any number of persons | Only Husband & wife |
| Division | Ownership can be divided into any number of interests, equal or unequal | Ownership interests must be equal | Ownership interests are equal |
| Title | Each co-owner has a separate legal title to his undivided interest | There s only one title to the whole property | Title is the "community" Each interest is separate but management is unified |
| Possession | Equal right of possession | Equal right of possession | Equal right of possession |
| Conveyance | Each co-owner's interest may be conveyed separately by its owner | Conveyance by one co-owner without the other breaks the joint tenancy | Both co-owners must join on conveyance of real property. Separate interest cannot be conveyed. |
| Purchaser's Status |
Purchaser will become a tenant in common with the other co-owners in the property | Purchaser will become a tenant in common with the other co-owners in the property | Purchaser can only acquire whole title of community: cannot acquire part of it. |
| Death | On co-owner's death, his interest passes by will to his devisees or heirs. No right of survivorship. | On co-owner's death, his interest ends and cannot be disposed of by will. Survivor owns the property by rights of survivorship | On co-owner's death 1/2 belongs to survivor in severalty. 1/2 goes by will to descendant's devisees or by succession to survivor |
| 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-owner's interest cannot be seized and sold separately. The whole property may be sold on execution sale to satisfy creditor. |
This is intended for information purposes only. You are urged to contact your attorney regarding the best way for you to hold title inasmuch as your personal circumstances will influence this decision
