Joint Tenants

Joint tenants are two or more people who share equal ownership of a property. Joint tenancy comes with Right of Ownership, which means that if one owner dies, the other automatically assumes his share. This right differentiates it from other forms of co-ownership such as tenancy in common, which passes the property as stated in the deceased's will. The will also has no effect on a joint tenancy. Joint tenants are most commonly husband and wife, although it's not uncommon for siblings, parent and child, and even friends to enter a joint tenancy.