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What are the differences between tenants in common and joint tenants with right of survivorship?

April 26, 2017common differences Joint right survivorship tenants

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What are the differences between tenants in common and joint tenants with right of survivorship?

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Tenants in Common: This type of ownership means that the interest owned by each tenant is subject to probate. Their share will pass through their Will when they die. Joint Tenants: Each joint tenant owns the whole and each you have equal rights to the property. Upon the death of one of the joint tenants, the surviving joint tenant or tenants automatically get the interest of the deceased joint tenant.