Different types of Tenancies- Estates

By
Real Estate Agent with Colfax Realty Group

All interests in a particular property may be owned by one person alone or tow or more persons whcihc may be concurrent interests in the same property. When two or more persons own an interest in real property, they are co-owners  and may hold the property in fee simple, as a life estate or as a lesser estates.

These are the co-ownerships types 

Joint Tenancy : A form of co-ownership that gives each tenant equal interest and equal rights in the property, including the right of survivorship.

Tenancy By The Entirety : A type of joint tenancy of property that provides right of survivorship and is available only to a husband and wife. Contrast with tenancy in common. ie husband and wife only

Tenancy In Common : A type of joint tenancy in a property without right of survivorship. Contrast with tenancy by the entirety and with joint tenacy. ie any number of people

 

 

 

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Rainmaker
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Nancy Larson
I am a licensed referral agent in NJ - Hutchinson Island, FL
Thanks....this helped me with my real estate exam....had the hardest time figuring them out...thanks
Nov 05, 2008 11:09 AM #1
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