Joint Tenancy

Legal Definition and Related Resources of Joint Tenancy

Meaning of Joint Tenancy

The ownership of land by two or more persons, which ownership meets all the following requirements: 1. unity of title : all of them have acquired their title from the same grantor by the same instrument of grant ; 2. unity of interest : all of them have acquired the same estate or interest in the lands, i.e., one joint tenant cannot have, say, an estate for life while the other has it for years; 3. unity of possession : each of them is entitled to the possession of the whole of the land; and 4. Unity of Time: the estate of each is for the same duration of time. See Porter v Porter, 381 III. 322, 45 N.E.2d 635. For a departure from above rule, see Cornell v Heirs of Walik, (Minn.) 235 N. W.2d 828. The principal characteristic of joint tenancy is the right of survivorship i.e., on the death of one tenant, interest passes to the surviving tenant and not to the heirs of the deceased tenant. While it is open to a joint tenant to convey his interest by a transfer inter vivos , he cannot make a testamentary disposition of same.

Legal Definition of Joint Tenancy

A form of shared ownership of a home or other property. Where two or more people own a property as joint tenants and one owner dies survivor(s) automatically take ownership of the deceased’s share.

Related Entries of Joint Tenancy in the Encyclopedia of Law Project

Browse or run a search for Joint Tenancy in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.

Joint Tenancy in Historical Law

You might be interested in the historical meaning of this term. Browse or search for Joint Tenancy in Historical Law in the Encyclopedia of Law.

Legal Abbreviations and Acronyms

Search for legal acronyms and/or abbreviations containing Joint Tenancy in the Legal Abbreviations and Acronyms Dictionary.

Related Legal Terms

You might be also interested in these legal terms:

Mentioned in these terms

Coparcener, Coparcenary, Several, Severance, Tenancy.

Meaning of Joint Tenancy in the U.S. Legal System

Definition of Joint Tenancy published by the National Association for Court Management: A form of legal coownership of property (also known as survivorship). At the death of one coowner, the surviving co-owner becomes sole owner of the property. Tenancy by the entirety is a special form of joint tenancy between a husband and wife.

Concept of Joint Tenancy in the context of Real Property

A short definition of Joint Tenancy: An undivided interest in property, taken by two or more joint tenants. The interests must be equal, accuring under the same conveyance, and beginning at the same time. Upon the death of a joint tenant, the interest passes to the surviving joint tenants, rather than to the heirs of the deceased.

Concept of Joint Tenancy in the context of Real Property

A short definition of Joint Tenancy: An undivided interest in property, taken by two or more joint tenants. The interests must be equal, accuring under the same conveyance, and beginning at the same time. Upon the death of a joint tenant, the interest passes to the surviving joint tenants, rather than to the heirs of the deceased.


Posted

in

,

by

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *