Features

• Joint tenancy can be created between two or more tenants. In this kind of property interest, when one tenant dies the interest of the deceased does not succeed to the decedent's interest. Instead, the survivor or survivors retain an undivided right in the property. The property is freed from the concurrent interest of the deceased.
  
  

Identification

• Four things must happen in unity to satisfy common law requirements in order to create a joint tenancy. There must be a unity of time, where the interests given to the tenants vest at the same time. There must also be unity of title. The tenants must acquire their interests in the same instrument (legal document). Third, the interests conveyed must unify; they must be of the same type and duration. Finally, a unity of possession must occur giving tenants identical rights to enjoyment.
  
  

Considerations

• Joint tenants have the right to terminate the tenancy. A suit for partition can be brought by either or any tenant. Other acts by tenants can operate the same as a severance as well. A conveyance by one tenant of her undivided interest destroys the joint tenancy. The recipient of the interest has an interest as a tenant in common as a result. Even if a tenant executes a valid contract to convey her interest though an actual transfer of title, a severance also results in most states.
  
  

Types

• Spouses can have a joint tenancy between themselves. A tenancy by the entirety is a marital estate akin to a joint tenancy. It maintains the right of survivorship in the same manner as a joint tenancy. However, a tenancy by the entirety can only be terminated by death of either spouse, divorce, mutual agreement or execution by both husband or wife. This type of estate is not recognized in community property states but is recognized in common law jurisdictions.
  
  

Warning

• Modern law does not favor joint tenancies. Many states have statutes that allow an owner to create a joint tenancy in herself and another by a single deed, despite not qualifying the "time" and "title" unities generally required in creation. Furthermore, the language "to A and B as joint tenants in common with right of survivorship" is required. This expresses the clear intent to create a joint tenancy. Otherwise a tenancy in common will be presumed when two or more persons take property by a single conveyance.