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Not Joint Tenancy |
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Dear Mrs. Lank: Is it possible for three people to own a property without it being called joint tenancy? |
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Yes. They are considered tenants in common unless the deed by which they received ownership specifically says they are taking title as joint tenants. The main difference comes into play when one owner dies. With joint tenancy, the surviving owners take over that share. With tenancy in common, other heirs can receive the share of the one who died. |
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Edith
Originally published on May 29, 2005 |
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