|Tenancy In Common||Joint Tenancy||Community Property||Community Property Right Of Survivorship|
|Parties||Any number of persons (can be husband and wife)||Any number of persons (can be husband and wife)||Only husband and wife||Only husband and wife|
|Division||Ownership can be dividedinto any number of interests, equal or unequal||Ownership interests cannotbe divided||Ownership interests are equal||Ownership and managerial interests are equal|
|Title||Each co-owner has a separate legal title to his undivided interests||There is only one title to the whole property||Title is in the “community”(Similar to title being in a partnership)||Title is in the “community”, management is unified|
|Possession||Equal right of possession||Equal right of possession||Equal right of possession||Both co-owners have equal management and control|
|Conveyance||Each co-owner’s interests may be conveyed separately by its owner||Conveyance by one co-owner without the others breaks the joint tenancy||Both co-owners must join in conveyance of real property. Separate interests cannot be conveyed||Right of survivorship may be terminated pursuant to the same procedures by which a joint tenancy may be severed|
|Purchaser’s Status||Purchaser becomes a tenantin common with the otherco-owners||Purchaser becomes a tenantin common with the otherco-owners||Purchaser can only acquire whole title of community; cannot acquire a part of it||Purchaser can only acquirewhole title of community; cannot acquire a part of it|
|Death||On co-owner’s death, his interest passes by will to his devisees or heirs. No survivorship right||On co-owner’s death, his interest ends and cannot be willed. Survivor owns the property by survivorship||On co-owner’s death, 1/2 goes to survivor in severalty.Up to 1/2 goes by will or succession to others (consult attorney with specific questions)||Upon the death of a spouse, his/her interest passes to the surviving spouse, without administration, subject to the same procedures as property held in joint tenancy|
|Successor’s Status||Devisees or heirs become tenants in common||Last survivor owns property in severalty||If passing by will, tenancy incommon between devisee and survivor results||Surviving spouse owns property|
|Creditors||Co-owner’s interest may be sold on execution sale to satisfy his creditor. Creditor becomes a tenant in common||Co-owner’s interest maybe sold on execution sale to satisfy his creditor. Joint tenancy is broken, creditor becomes a tenant in common||Co-owner’s interests cannot be seized and sold separately. The whole property may be sold to satisfy debts of either husband or wife, depending on the debt (consult attorney with specific questions)||Property of community is liable for debts whichare made before or after marriage; whole property may be sold on execution sale to satisfy creditor|
|Presumption||Favored in doubtful cases except husband and wife (see Community Property)||Must be expressly stated and properly formed. Not favored||Strong presumption that property acquired by husband and wife is community|
This is provided for informational purposes only.
Specific questions for actual real property transactions should be directed to your attorney or C.P.A.