Two or more owners sharing the property in joint tenancy
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eb
Apprentice
Joined: 25 Oct 2006
Posts: 3
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 Posted: 09/06/08 - 09:10 Post subject: |
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| Hi there people. My name is Adam and I would like to ask you something about one form of property ownership. I am interested in case when two or more owners sharing the property in joint tenancy. What exactly is a joint tenancy? Thank you in advance for your posts. |
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otho
Apprentice
Joined: 24 Mar 2007
Posts: 5
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| Posted: 09/21/08 - 03:46 Post subject: |
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| Hello Adam. Joint tenancy is common ownership of a property. It is when two or more persons own together a house, for example. Joint tenants share the costs of property purchase and maintenance. If there is a profit arising, then they also share it. The most important is that all joint tenants have right to use the property. You should also know that tenants in common have no right of survivorship. That would be all from me. Good bye! |
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tibold
Apprentice
Joined: 18 Feb 2008
Posts: 4
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| Posted: 10/05/08 - 22:22 Post subject: |
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| Hello. Joint tenancy is when you own some property together with one or more other persons. It has both good and bad sides. It is good when you can share your expenses with someone. It can be very convenient if you don’t have enough funds to purchase property by yourself. However, sometimes problems can arise. That’s why I would recommend you to properly analyze all the conditions before you make a decision. |
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