There are several ways to own property, one of them is,
Tenancy in common
Title to property held by two or more persons, in which each one has an undivided interest in the property and all have an equal right to use the property, even if the percentage of interests are not equal or the living spaces are different sizes. Unlike "joint tenancy," there is no "right of survivorship" if one of the tenants in common dies, and each interest may be separately sold, mortgaged or willed to another. on the other hand a joint tenancy interest, passes automatically to the survivor, upon the death of a tenant in common there must be a probate of the estate of the deceased to transfer the interest in the tenancy in common.
Stay tuned for other ways to own property.
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