What is the difference between joint tenants and tenants in common when buying property with others?
Joint tenants and tenants in common are two common ways to co-own property. Joint tenants have an equal share in the property, and if one owner passes away, their share automatically transfers to the surviving joint tenant(s). In contrast, tenants in common can have unequal shares, and if one owner passes away, their share is passed on according to their will or intestacy laws, not necessarily to the co-owners.
