• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Levine, Furman & Rubin, LLC

East Brunswick Estate Planning Attorneys

Attend a Free Seminar 732-238-6000
  • Home
  • Our Firm
    • Advantages of Working With Our Firm
    • Attorneys and Staff Profiles
    • Communities We Serve
      • Mercer County
      • Monmouth County
        • Freehold Township
      • Middlesex County
        • East Brunswick
        • Edison
        • Monroe Township
        • Old Bridge Township
      • Ocean County
        • Jackson Township
        • Lakewood
    • Founding Attorneys
    • Multimedia
    • News & Events
    • Our Services
    • Speaker Connection
  • how we can help
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Incapacity Planning
    • IRA & Retirement Planning
    • Legacy Wealth Planning
    • LGBTQ Estate Planning
    • Loss of a Loved One
    • Special Needs Planning
    • SECURE Act
    • Trust Administration & Probate
  • elder law
    • Caregiver Guidance
    • Coping With Alzheimer’s
    • Medicaid Planning
    • Veteran’s Benefits
  • Seminars
  • RESOURCES
    • DocuBank
    • Educational-Alerts
    • Elder Law Reports
    • Estate Planning Articles
      • The Importance of Retirement Planning
      • Reasons to Create a Living Trust
      • What to Include in Your Will
    • Estate Administration Consult Form
    • Newsletters
    • Pre-Consultation Form
    • Reports
    • Special Needs Resources
    • Trust Administration And Probate Resources
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • Trust Administration & Probate Definitions
  • Reviews
    • Our Reviews
    • Review Us
  • Blog
  • Contact Us
Home » Blog » Difference between Joint Tenants and Tenants in Common

Difference between Joint Tenants and Tenants in Common

August 20, 2010 by Roger Levine, Estate Planning Attorney

Although there is more than one co-owner of a property under Joint Tenancy and Tenancy in Common, there are significant differences in the rights and duties assigned to the owners:

  • Joint ownership provides equal, unlimited and free access to all the owners of the property concerned. However, the equity in the property is different. Each owner has equity equal only to that portion of the property which he or she owns.
  • In case of a Joint Tenancy, none of the co-owners can sell or mortgage the property without the permission of the other co-owners. A property held under Joint Tenancy can be sold or mortgaged only if all the owners agree. However, in case of tenancy in common, any of the owners can sell or mortgage his or her share without taking the permission of the remaining owners.
  • In case a co-owner in a Joint Tenancy dies, the property concerned automatically passes to the remaining co-owners. The heirs at law of the deceased owner do not receive anything and have no right to the asset concerned. The surviving owners meanwhile will need to remove the deceased owner’s name from the asset. However, in case of Tenancy in Common, if one of the co-owners dies, his or her share of the property gets transferred to beneficiaries or legal heirs (in case there is no Will).

Tenancy in Common is advisable if all the owners have made Wills. Otherwise, in case of the death of a co-owner, interest in the real estate may pass to unintended persons. Disagreements between the new owner and the earlier owners regarding the sale of the property concerned can result in lengthy court battles.

  • Author
  • Recent Posts
Roger Levine, Estate Planning Attorney
Roger Levine, Estate Planning Attorney
Roger N. Levine is a co-founder of the East Brunswick, New Jersey law firm of Levine, Furman & Rubin, LLC.
Roger Levine, Estate Planning Attorney
Latest posts by Roger Levine, Estate Planning Attorney (see all)
  • Benefits of Choosing a Nursing Home in Advance - July 5, 2022
  • You Say You Don’t Need An Estate Plan? - June 24, 2022
  • Estate Planning: Have You Provided For Your Pet? - June 20, 2022

Primary Sidebar

Levine, Furman & Rubin, LLC

Levine, Furman & Rubin, LLC

NEWSLETTER SUBSCRIPTION

FOLLOW US

  • Facebook
  • Instagram
  • LinkedIn
  • Twitter
  • YouTube

WHERE WE ARE

East Brunswick (Main Office)
F-3 Brier Hill Ct.
East Brunswick, NJ 08816
Phone: (732) 238-6000
Fax: (732) 238-6055

MAP

Map

SATELLITE OFFICE

Jackson (Satellite Office)
19 N County Line Road Suite 3
Jackson, NJ 08527
Phone: (732) 238-6000
Fax: (732) 238-6055

OFFICE HOURS

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 5:00 PM

Footer

Levine, Furman & Rubin, LLC

Levine, Furman & Rubin, LLC

Levine, Furman & Rubin, LLC

East Brunswick (Main Office)
F-3 Brier Hill Ct.
East Brunswick, NJ 08816
Phone: (732) 238-6000
Fax: (732) 238-6055

Map/Location

Map

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 5:00 PM

Jackson (Satellite Office)

19 N County Line Road Suite 3
Jackson, NJ 08527
Phone: (732) 238-6000
Fax: (732) 238-6055
Map

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 5:00 PM
  • Facebook
  • Instagram
  • LinkedIn
  • Twitter
  • YouTube

The information on this website is for general information purposes only. Nothing on this or associated
pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. This
information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.
Privacy Policy | Terms of Service | Disclaimer | Site Map | Powered by American Academy of Estate Planning Attorneys
© 2023 Levine, Furman & Rubin, LLC. All Rights Reserved.