TITLE CAN BE HELD IN DIFFERENT WAYS

Please keep in mind that this is only general information.  For precise information consult with your attorney or legal advisor.
 

if property is held in
Tenancy in Common
if property is held in
Joint Tenancy
if property is held in
Community Property
PARTIES
Any number of persons. (can be husband & wife.) Any number of persons. Only husband and wife.
DIVISION
Ownerships can be divided into any number of interests equal or unequal. Ownership interests must be equal. Ownership interests are equal.
TITLE
Each co-owner has a separate legal title to his undivided interest. There is only one title to the whole property. Title is in the "community". Each interest is separate but management is unified.
POSSESSION
Equal right of possession. Equal right of possession. Equal right of possession.
CONVEYANCE
Each co-owner's interest may be conveyed separately by its owner. Conveyance by one co-owner without the others breaks the joint tenancy. Both co-owners must join on conveyance of real property. Separate interest cannot be conveyed.
PURCHASER'S STATUS
Purchaser will become a tenant in common with the other co-owners in the property. Purchaser will become a tenant in common with the other co-owners in the property Purchaser can only acquire whole title of community: cannot cannot acquire a part of it.
DEATH
On co-owner's death, his interest passes by will to his devisees or heirs. No right of survivorship. On co-owner's death, his interests end and cannot be disposed of by will. Survivor owns the property by rights of survivorship. On co-owner's death 1/2 belongs to survivor in severalty 1/2 goes by will to descendant's devisees or by succession to survivor.
CREDITOR'S RIGHTS
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 tenant in common. Co-owner's interest cannot be seized and sold separately. The whole property may be sold on execution sale to satisfy creditor
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