Co-ownership means that more than one person owns a single piece of real estate. There are a few different ways to structure co-ownership, but two of the most common are tenancy in common and joint tenancy.
Understanding the nuances of tenancy in common versus joint tenants is essential for estate planning and managing your property effectively. The two arrangements differ in several key ways, including rights of survivorship, how ownership is divided, and the ability to transfer your ownership stake to someone else.
Here’s what you need to know.