What Is The Difference Between Joint Tenancy And Tenancy In Common?

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When two or more persons buy property together they have to determine the important co-ownership relationship that will exist between them.

In a Joint tenancy two or more persons own equal shares of the property. Upon the death of one co-owner the ownership is automatically transferred to the remaining owners. This is called the Right of Survivorship. In general, the Joint Tenant does not therefore dispose of his interest by Will.

In a Tenancy in Common two or more persons own an undivided share in the property. Upon the death of one co-owner his share would pass according to his Will or based on the rules of intestate succession.

At The Law Offices of Pearnel P. Charles Jr. we specialize in providing legal services for individuals residing overseas. Most of our clients reside in the United States, United Kingdom and Canada and they rely on us to be their trusted partner in Jamaica because we understand their unique needs and expectations.

Contacts us now for a consultation and to discuss how we can protect your investments and represent your interest.


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