Ownership can be divided into any number of
interests equal or unequal
Ownership interests cannot be divided
Ownership interests equal
Title
Each co-owner has a separate legal title to his/her
undivided interests
There is only one title to the whole property
Title is in the "community"
Possession
Equal right of possession
Equal right of possession
Equal right of possession
Conveyance
Each co-owners interests may be conveyed
separately by it´s owner
Conveyance by one co-owner without the others,
breaks the joint tenancy
Both co-owners must join in conveyance of real
property. Separate interests cannot be conveyed.
Purchasers Status
Purchaser becomes a tenant in common with the
other co- owners
Purchaser becomes a tenant in common with the
other co-owners
Purchaser can only acquire while title of
community: cannot acquire part of it
Death
On co-owner´s death his interest passes by will
or succession to his devisees or heirs. No
survivorship right.
On co-owners death, his interest ends and cannot
be willed. Survivor owns the property by
survivorship.
On co-owners death ˝ goes to survivor in
severalty. Up to ˝ goes by will or succession to
others (consult an attorney with specific
questions)
Successors Status
Devisee´s or heirs become tenancy in common
Last survivor owns property in severalty
If passing by will, tenancy in common between
devisee and survivor results
Creditors
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 a tenant 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 an attorney)
Presumption
Favored in doubtful cases except husband and
wife (see community property)
Must be expressly stated and properly formed.
Not favored.
Strong presumption that property acquired by
husband and wife is community.
