How are the different forms of ownership created?
In order to create a tenancy of your choosing, you must specify the type of ownership, i.e., Tenancy by the Entirety (TBE), Joint Tenancy (JT), or Tenancy in Common (TIC), as applicable, on the deed or account documents. Once JT or TBE is established, an independent sale or lifetime gift by one of the tenants will transform the nature of the interest to a TIC.
