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| Tenancy In Common | Joint Tenancy | Community Property | Partnership Interest | |
| Parties | Two or more persons or entities (can be husband and wife). | Two or more persons (can be husband and wife) provided the tenancy is properly created. | Only husband and wife. | Only partners (more than one). |
| Division | Ownership can be divided into any number of interests, equal or unequal. | One and the same interest. | Ownership interest is equal. | Ownership interest is in relation to interest in partnership. |
| Title | Each co-owner has a separate legal title to his/her undivided interest. | There is only one title to the who property. | Title is in the "community." Each interest is separate. | Title is in the "partnership." |
| Possession | Equal right of possession. | Equal right of possession. | Both co-owners have equal possession. | Equal right of possession only for partnership purposes. |
| Conveyance | Each co-owner's interest may be conveyed separately by its owner. | All joint tenants must join in. Any conveyance by one co-owner without the others breaks his/her joint tenancy. | Real property required written consent of other spouse, and separate interest cannot be conveyed except upon death. | Conveyance of partnership property is generally defined in the partnership agreement. No partner may sell his individual interest in the partnership without the consent of the co-partners. |
| Death | On co-owners death his/her interest passes by will to his/her devises or his/her heirs subject to administration by the local Superior Court. No survivorship right. | On co-owners death the entire tenancy remains to the survivor. This right of survivorship is the primary incident of joint tenancy. | On co-owners death 1/2 belongs to survivor in severalty 1/2 goes by will in decedent's devisee's subject to administration by the local Superior Court. | On partners death his/her partnership interest passes to the surviving partner pending liquidation of the partnership. Share of deceased partner then goes to his estate. |
| Successor's Status | Devises or heirs become tenants in common. | Last survivor owns property in severalty. | If passing by Will, tenancy in common between devise and survivor results. | Heir's or devisees have rights in partnership interest but not in specific property. |
| Creditor's Rights | Co-owners interest may be sold on execution sale to satisfy his/her creditor. Creditor becomes a tenant in common. | Co-owners interest may be sold on execution sale to satisfy creditor. Joint tenancy is broken, creditor becomes a tenant in common. | Property of community is liable for contract of either spouse which are made after marriage and prior to or after January 1, 1975. Co-owners interests can't be sold separately, whole property may be sold on execution to satisfy credtor. | Partner's interest cannot be seized or sold separately by his personal creditor but his share of profits may be obtained by a personal creditor. Whole property may be sold on execution sale to satisfy partnership creditor. |
| Information regarding vesting is furnished for information purposes only. We suggest that you contact an attorney or a CPA if you desire advice regarding a specific manner of holding title. | ||||
