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Joint Ownership of Real Property People's Law Library Form

Joint Ownership of Real Property People's Law Library Form

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what is co-ownership this is the question we want to answer on today's episode we also want to discuss some of the advantages and disadvantages of going down the path of co-ownership ownership really is a property ownership where you have two or more people owning the same piece of property individuals can share in the cost of owning the property as well as the responsibilities associated with owning the property two different ways in which you can call on property the first one is joint tenancy the second one is called tenancy in common joint tenancy is essentially where when two or more individuals own the property together but they own it in its entirety so you've got undivided interest in the property being held by multiple parties the defining future with respect to Joint tenancy is that if one of these owners dies that interest doesn't go into this person's estate instead it automatically passes to the other co-owner tenancy in common on the other

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