The second form of co-ownership is called a joint tenancy. In a joint tenancy, each co-owner holds an equal share of the whole property. If one of the co-owners dies, then their share passes automatically to the other co-owners in the joint tenancy. The interest in the property cannot be left in a will because by the time the will takes effect.. What is joint ownership? Joint ownership. is where two or more people own an asset (for example, a bank account, real property or a vehicle). There are two kinds of joint ownership in British Columbia: 1. Joint tenancy: The joint owners hold an equal, undivided interest in the asset. When one owner dies, the title passes outside the deceased's

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Joint tenancy is common for anyone purchasing with a spouse or partner. In this type of tenancy, when one of you dies the other becomes the sole owner. That's because the entire ownership.. Joint tenancy is generally preferred for most spouses. If two or more people own property as a Tenancy in Common, it does not have to be divided equally. Tenants in Common can own different proportions of the property, for example ¼ and ¾, and they can sell or mortgage their portion as they please. If one tenant in common dies, that person.