Joint Tenancy
Joint tenancy is a form of co-ownership in which two or more owners hold equal shares with a right of survivorship.
What Joint Tenancy means
When one owner dies, their share passes automatically to the survivors, bypassing probate. It's common among married couples and family members buying together.
Florida example
A Florida couple takes title as joint tenants so that if one passes, the other becomes sole owner without a court process. This differs from tenancy in common, where a share passes to heirs instead.
What it means
Joint tenancy is a way two or more people can own property together with equal shares. It includes the right of survivorship.
That means if one owner dies, their share passes automatically to the others, not through probate.
Why buyers choose it
Couples and family members often pick joint tenancy for a smooth transfer of ownership. It keeps the home out of a long court process.
We work with your title team to set ownership up right. Apply now and we will coordinate the details.
Verify the details for your own situation against these government and agency sources: CFPB Owning a Home guide and HUD homebuyer resources.