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|
Joint
Tenants |
Community Property with Rights of
Survivorship |
Community
Property |
Tenants
Common |
|
Parties |
Any
number of persons (can be husband and wife) |
Can only be husband and wife. |
Can only be husband and wife. |
Any number of persons (... can be husband and wife) |
|
Division
|
Ownership interest must be equal. |
Ownership and managerial interests are equal except
control of business is solely with managing spouse. |
Ownership and managerial interests are equal except
control of business is solely with managing spouse. |
Ownership can be divided into any number of interests,
equal or unequal. |
|
Title |
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. |
Each
co-owner has a separate legal title to his undivided
interest. |
|
Possession |
Equal right of possession. |
Both Co-owners have equal management and control. |
Both Co-owners have equal management and control. |
Both Co-owners have equal management and control. |
|
Conveyance |
Conveyance by one co-owner without the others breaks
the joint tenancy, provided it is recorded prior to
death. |
Real Property requires written consent of other spouse,
and separate interest can't be conveyed, except upon
death. |
Real Property requires written consent of other spouse,
and separate interest can't be conveyed, except upon
death. |
Each co-owner's interest may be conveyed separately
by it's owner. |
|
Purchaser
Status |
Purchaser will become tenant in common with the other
co-owners in the property. |
Purchaser can only acquire whole title of community,
cannot acquire a part of it. |
Purchaser can only acquire whole title of community,
cannot acquire a part of it. |
Purchaser will become tenant in common with the other
co-owners in the property |
|
Death
|
On co-owner's death, his/her interest ends and cannot
be disposed of by will. Survivor owns the property by
right of survivorship. |
On co-owner's death, this interest ends and can't be
disposed of by will. Survivor owns the property by survivorship. |
On co-owner's death, 1/2 belongs to survivor in severalty.
1/2 goes by will to descendant devisees or by succession
to survivor. |
On co-owner's death, his/her interest passes by will
to his/her devisees or his/her heirs. No survivorship
of right. |
|
Successor
Status |
Last
survivor owns property in severalty. |
Last
survivor owns property in severalty. |
If
passing by will, tenancy in common between devisee and
survivor results. |
Devisees
or heirs become tenants in common. |
|
Creditor's
Rights |
Co-owner's interest may be sold on execution sale to
satisfy creditor. Joint tenancy is broken, creditor
becomes tenant in common. |
Property of community is liable for contracts of either
spouse that are made after marriage and prior to or
after January 1, 1975. Co-owner's interest can't be
sold separately, whole property may be sold on execution
to satisfy creditor. |
Property
of community is liable for contracts of either spouse
that are made after marriage and prior to or after January
1, 1975. Co-owner's interest can't be sold separately,
whole property may be sold on execution to satisfy creditor. |
Co-owner's
interest may be sold on execution sale to satisfy creditor.
Joint tenancy is broken, creditor becomes tenant in
common. |
|
Presumption |
Must be expressly stated in writing. Court will not
presume Joint Tenancy. |
Strong presumption the property acquired by husband
and wife is community. |
Strong
presumption the property acquired by husband and wife
is community. |
Court
will presume tenancy in common, if not expressly stated
as husband and wife. |
