Homeownership • Education

Joint tenancy vs. tenants in common

How these two ways of co-owning property differ, especially around survivorship and shares.

Joint tenancy and tenancy in common are two ways two or more people can hold title to a property. The biggest differences are the right of survivorship and whether owners hold equal shares.

Joint tenancy and the right of survivorship

In a joint tenancy, co-owners hold equal shares and share a right of survivorship. That means if one owner dies, their interest passes automatically to the surviving joint tenant(s), outside of probate, rather than through a will. Joint tenancy is common between spouses and family members who want ownership to pass seamlessly to the survivor.

Creating a valid joint tenancy generally requires the owners to take title at the same time, on the same document, with equal interests and equal rights to possess the whole property. Because of survivorship, a joint tenant generally cannot leave their share to someone else in a will — it passes to the surviving owner.

Tenancy in common

In a tenancy in common, co-owners can hold unequal shares — for example, one owner 60% and another 40% — and there is no right of survivorship. When a tenant in common dies, their share passes through their estate to their heirs or as directed in their will, not automatically to the other owners.

This structure suits co-owners who are not spouses, who contribute different amounts, or who want control over who inherits their share — such as business partners or friends buying together, or family members with separate estate plans.

Why it matters for buyers

How you take title affects what happens to the property when an owner dies, how shares can be transferred, and estate planning. It can also intersect with financing when multiple people are on a loan. This is ultimately a legal and estate-planning decision, and the right choice depends on your relationships, contributions, and goals.

Florida also recognizes a special form for married couples, tenancy by the entirety, which carries survivorship and certain protections. Because these are legal distinctions, it is wise to confirm the right vesting with a real estate attorney or title professional. As a Florida mortgage broker, we can coordinate with them on the financing side. This page is educational and is not legal advice or a commitment to lend.

Frequently asked questions

What is the main difference between joint tenancy and tenancy in common?

Joint tenancy includes a right of survivorship and equal shares, so a deceased owner’s interest passes automatically to the survivors. Tenancy in common allows unequal shares and no survivorship, so a share passes through the owner’s estate.

What is the right of survivorship?

It means that when one co-owner dies, their interest automatically passes to the surviving co-owner(s), outside of probate. It is a defining feature of joint tenancy.

Can tenants in common own unequal shares?

Yes. Tenants in common can hold different percentages of ownership, reflecting different contributions, and each can direct their share to heirs through their estate.

Which is better for married couples?

Many couples choose survivorship-based vesting so the property passes to the surviving spouse. Florida also recognizes tenancy by the entirety for married couples, which adds certain protections. A title professional or attorney can advise.

Does how I hold title affect my mortgage?

Vesting is mainly a legal and estate matter, but it can intersect with financing when multiple people are on the loan. It is worth coordinating the title decision with your loan.

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