What is the difference between tenants in common and joint tenancy

Joint tenancy is the holding of property by two or more persons in equal shares. If one owner dies, his or her share will automatically go to the other partner(s), irrespective of any provisions made in a will. This kind of ownership structure is used most commonly by married couples.

Tenants in common is a type of co-ownership where two or more people own separate interests in a parcel of land (which may be equal or unequal). The laws of survivorship do not apply to tenancy in common. When one party dies, their share of the property can be left to anyone they like, as provided for in their will. PodProperty makes use of this type of co-ownership arrangement.