joint tenancy - one of several forms of shared ownership in which more than one person owns an interest in the same real property. The traditional test for joint tenancy is the application of the "four unities": (1) unity of title ? all owners share one title; (2) unity of time ? the joint tenancy must be created by grant or will, executed and delivered at one time; (3) unity of interest ? each joint tenant must have an equal interest in the property; (4) unity of possession ? each owner must have an equal right to possess and enjoy the entire property.

     There is also a right of survivorship, meaning that, if one joint tenant dies, the surviving joint tenant(s) automatically receive the decedent's interest as a matter of law. If a joint tenant sells or grants his or her interest to another, the new owner holds title as a tenant in common with the remaining joint tenants. See also community property and tenancy in common.

     There is also a right of survivorship, meaning that, if one joint tenant dies, the surviving joint tenant(s) automatically receive the decedent's interest as a matter of law. If a joint tenant sells or grants his or her interest to another, the new owner holds title as a tenant in common with the remaining joint tenants. See also community property and tenancy in common.

© 2004 Bella Vista Publishing Company, Inc.  ISBN 0-9718225-0-6

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