| Sole ownership | Co-ownership | ||||
| In Severalty | Tenancy in Common | Join Tenancy | Community Property | Community Property w/ROS* | |
| Ownership by one person or entity | Who may own | Two or more persons or entities without any rights of survivorship. (may be husband and wife) |
Two or more living persons with a right of survivorship (may be husband and wife) |
Available to married persons only | Available to married persons only |
| N/A | How title is taken | Each tenant has an undivided interest in the whole property. (need not be equal) But has equal rights of possession. |
Title must be acquired: 1) At one time 2) By the same instrument 3) Equal Undivided Interest 4) Equal Rights of Possession |
Equal Undivided Interest Equal Rights of Possession |
Equal Undivided Interest Equal Rights of Possession |
| May be sold, or given to anyone | How interest may be conveyed | Each Tenant In Common may sell or give away his/her interest without the consent of the other co-tenants | Each Joint Tenant may sell or give away his/her interest without the consent of the other joint tenants. New owner acquires as a Tenant in Common, with the remaining Joint Tenants |
Requires signatures of both husband and wife to sell or gift. In the event of divorce, couple must elect joint tenancy or tenancy in common if they wish to retain ownership. |
Requires signatures of both husband and wife to sell or gift. In the event of divorce, couple must elect joint tenancy or tenancy in common if they wish to retain ownership. |
| Upon death, may be willed to anyone If intestate, follows the law of succession If no heirs, escheat |
What happens upon death | Each tenant in common has a separate interest in the property. Upon death, a co-tenant's interest may be willed to anyone. If co-tenant dies intestate, the interest passes to heirs or escheats. |
Upon death, interest passes equally to the surviving joint tenants. Cannot be willed. |
Either spouse may will his/her half to anyone. If either spouse dies intestate, the remaining interest passes to the surviving spouse. |
Upon death, interest passes equally to the surviving joint tenants. Cannot be willed. |
| Interest may be sold on execution of sale to satisfy unsecured creditor. | What is unsecured creditor's interest | Co-Owner's Interest may be sold on execution of sale to satisfy unsecured creditor. Creditor becomes Tenant in Common. |
Co-Owner's Interest may be sold on execution of sale to satisfy unsecured creditor. Breaks the Joint Tenancy. Creditor becomes Tenant in Common. |
Co-Owner's interest can not be seized and sold separately. The whole property can be sold to satisfy the debts of either spouse. |
Co-Owner's interest can not be seized and sold separately. The whole property can be sold to satisfy the debts of either spouse. |
| N/A | Presumptions | Unless specifically designated, property acquired by two or more unmarried individuals is presumed to be Tenancy in Common | There is no presumption of joint tenancy | Generally, property acquired by either spouse during marriage is presumed to be Community Property (acquired through community earnings). Separate Property could also be acquired (outside the marriage by gift, inheritance, will, etc) Either spouse may gift his/her separate property to the other spouse as community property. |
Generally, property acquired by either spouse during marriage is presumed to be Community Property (acquired through community earnings). Community Property with Right of Survivorship requires designation in the deed or instrument of conveyance |
| In Severalty | Tenancy in Common | Join Tenancy | Community Property | Community Property w/ROS* | |
| Sole ownership | Co-ownership | ||||
* Right of Survivorship