Difference Between Joint Tenancy and Tenancy in Common

1.0 Introduction

When two or more people own a home, either as a joint tenancy or tenancy in common, each person owns a share of the entire property. This means that specific areas of the house are not owned by one individual, but instead, are shared as a whole. While joint tenants are similar to tenants in common in many ways, particularly with regard to their right of possession to a given property, there are some important differences.

2.0 Tenancy in Common

While none of the owners may claim a specific area of the property, tenants in common may have unequal shares and different ownership interests. For instance, Tenant A and Tenant B may each own 25% of the home, while Tenant C owns 50%. Tenancies in common also may be obtained at different times, so an individual may get an interest in the property years after one or more other individuals have entered into a tenancy in common ownership.
Joint Tenancy

Joint tenants, on the other hand, must obtain equal shares of the property with the same deed, at the same time. The terms of either a joint tenancy or tenancy in common are outlined in the deed, title, or other legally binding property ownership document. The default ownership for married couples is joint tenancy in some states, and tenancy in common in others.

2.1 Pros and Cons of Tenancy in Common

Buying a home with a family member or business partner may make it easier to enter the real estate market. Dividing deposits, payments, and maintenance make real estate investment less expensive for an individual buyer.


However, when mortgaging property as tenants in common, all borrowers sign and agree to the loan agreement, and in the case of default, the lender may seize the holdings from all tenants. If one or more borrowers stop paying their share of the mortgage loan payment, the other borrowers are still responsible for the full payment of the loan.


Using a will to designate beneficiaries to the property gives a tenant control over their share. However, the remaining tenants may subsequently own the property with someone they do not know or with whom they do not agree. The heir may file a partition action, forcing unwilling tenants to sell or divide the property.

2.1.1 Pros

• Facilitates property purchases
• Number of tenants can change
• Different degrees of ownership possible

2.1.2 Cons

• No automatic survivorship rights
• All tenants equally liable for debt and taxes
• One tenant can force sale of property

3.0 Comparison/Contrast

3.1 Terminating Joint Tenancy vs. Tenancy in Common

A joint tenancy can be broken if one of the co-owners transfers or sells his or her interest to another person, thus changing the ownership arrangement to a tenancy in common for all parties.

A tenancy in common can be broken if one of the following occurs:One or more co-tenants buys out the others
The property is sold and the proceeds distributed amongst the owners
A partition action is filed, which allows an heir to sell his or her stake. At this point, former tenants in common can choose to enter into a joint tenancy via written instrument if they so desire.

This type of holding title is most common between husbands and wives and among family members in general since it allows the property to pass to the survivors without going through probate (saving time and money).

3.2 Right of Survivorship

One of the main differences between the two types of shared ownership is what happens to the property when one of the owners dies.

When a property is owned by joint tenants, the interest of a deceased owner gets transferred to the remaining surviving owners. For example, if three joint tenants own a house and one of them dies, the two remaining tenants each obtain a one-half share of the property. This is called the right of survivorship.

Tenants in common have no rights of survivorship. Unless the deceased owner's will or other instrument specifies that their interest in the property is to be divided among the surviving owners, a deceased person's interest belongs to the estate.

4.0 Conclusion 

In a Joint Tenancy, tenants obtain equal shares of a property with the same deed at the same time. With two tenants, each owns 50%. If one party would like to buy out the other, the property must be sold and the proceeds distributed equally.

In Tenancy in Common, the ownership portion passes to the individual's estate at death. In Joint Tenancy, the title of the property passes to the surviving owner.