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TENANCY IN COMMON |
JOINT TENANCY |
COMMUNITY PROPERTY |
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| Parties |
Any number of persons (can be husband and wife). |
Only husband and wife. |
|
| Division |
Ownership can be divided into any number of interests, equal or unequal. |
Ownership interests can not be divided. |
Ownership interests are equal. |
|
| Title |
Each co-owner has a separate legal title to his undivided interest. |
There is only one title to the whole property. |
Title is in the "Community" (Similar to title being in a partnership). |
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| Possession |
Equal right of possession. |
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| Conveyance |
Each co-owner's interest may be conveyed separatly by its owner. |
Conveyance by one co-owner without the others breaks the joint tendancy. |
Both co-owners must join in conveyance of real property. Seperate interests can not be conveyed. |
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Purchaser's
Status |
Purchaser becomes a tenant in common with other co-owners. |
Purchaser can only acquire whole title of community: cannot acquire a part of it. |
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| Death |
On co-owner's death, his interest passes by will to his devisees or heirs. No survivorship right. |
On co-owner's death, his interest ends and cannot be willed. Survivor owns the property by survivorship. |
On co-owner's death, 1/2 goes to the survivor in severalty. Up to 1/2 goes by will or succession to others. (Consult attorney with specific questions). |
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Successor's
Status |
Devisees or heirs become tenants in common. |
Last survivor owns property in severalty. |
If passing by will, tenancy in common between devisee and survivor results. |
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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 tennant in common. |
Co-owner's 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). |
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| Presumption |
Favored in doubtful cases except husband and wife (See Community Property). |
Must be expressly stated and properly formed. Not favored. |
Strong assumption that property acquired by husband and wife is community. |
