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Ways of Holding Title

  Tenancy in Common Joint Tenancy Community Property Community Property with Right of Survivorship (effective 7-1-01)
Parties Any number of persons (Can be husband & wife). Any number of persons (Can be husband & wife). Only husband & wife. Only husband & wife.
Division Ownership can be divided into any number of interests equal or unequal. Ownership interests must be equal. Ownership & managerial interests equal except control of business is solely with managing spouse. Ownership & managerial interests equal except control of business is solely with managing spouse.
Title Each co-owner has a separate legal to his undivided interest. There is only one title to the whole property. Title is in the “community”. Each interest is separate but management is unified. Title is in the “community”. Each interest is separate but management is unified.
Possession Equal right of possession. Equal right of possession. Both co-owners have equal management & control. Both co-owners have equal management & control.
Conveyance Each co-owner's interest may be conveyed separately by its owner. Conveyance by one co-owner without the other breaks the joint tenancy. Personal properties (except “necessaries”) may be conveyed for valuable consideration without consent of other spouse. Real property requires written consent of other spouse & separate interest cannot be conveyed except upon death. Conveyance by one co owner without the other breaks the community interest with right of survivorship.
Death On co-owner's death his interest passes by will to his devisees or his heirs. No survivorship rights. On co-owner's death his interest ends & cannot be disposed of by will. Survivor owns the property by survivorship. On co-owner's death half belongs to survivor in severalty. Half goes by will to decedents devisees or by succession to survivor. On co-owner's death his interest ends & cannot be disposed of by will. Survivor owns the property by survivorship
Successors
Status

Devisees or heirs become tenants in common. Last survivor owns property in severalty. If passing by will tenancy in common between devisee & survivor results. Last survivor owns property in severalty.

Courtesy: First American Title.

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