Holding Title

TENANCY IN COMMON JOINT TENANCY COMMUNITY PROPERTY COMMUNITY PROPERTY WITH RIGHT OF SURVIVORSHIP
Parties Any number of persons (can be married spouses or registered domestic partners) Any number of persons (can be married spouses or registered domestic partners) Married spouses or domestic partners Married spouses or domestic partners
Division Ownership can be divided into any number of interests equal or unequal Ownership interest must be equal Ownership and managerial interests are equal (except control of business is solely with  managing spouse) Ownership and managerial interests are equal
Title Each co-owner has a separate legal title to his/her undivided interest Sale or encumbrance by joint tenant severs joint tenancy Title is in the “community”. Each interest is separate but management is unified Title is in the “community,” management is  unified
Possession Equal right of possession Equal right of possession. Both co-owners have equal management and control Both co-owners have equal management and control
Conveyance Each co-owner’s interest may be conveyed separately by its owner Conveyance by one co-owner without the others breaks the joint tenancy Personal property (except “necessaries”) may be conveyed for valuable consideration without consent of other spouse; real property requires written consent of other spouse, and separate interest cannot be conveyed except upon death Right of survivorship may be terminated
pursuant to the same procedures by which a joint tenancy may be severed
Purchaser’s Status Purchaser will become a tenant in common with the other co-owners in the property Purchaser will become a tenant in common with the other co-owners in the property as to the purchaser’s interest. Other owner’s may remain joint tenants Purchaser can only acquire whole title of community; cannot acquire a part of it Purchaser can only acquire whole title of community; cannot acquire a part of it
Death On co-owner’s death, his/her
interest passes by will to devisee
or heirs. No survivorship rights
On co-owner’s death, his/her interest ends and cannot be disposed of by will.  Survivor owns the property by survivorship On co-owner’s death, 1/2 belongs to survivor in severalty. 1/2 goes by will to descendant’s devisee or by succession to survivor Upon death of spouse, his/her interest passes to the surviving spouse, without administration, subject to the same procedures as property held in joint tenancy
Successor’s Status Devisee or heirs become tenants in common Last survivor owns property If passing by will, tenancy in common between devisee and survivor results Surviving spouse owns property
Creditor’s Rights Co-owner’s interest may be sold on execution sale to satisfy his/her creditor. Creditor becomes a tenant
in common
Co-owner’s interest may be sold on execution sale to satisfy his/her creditor. Joint tenancy is broken, creditor becomes a tenant in common Property of the community is liable for debts of either spouse, which are made before or after marriage. Whole property may be sold on execution sale to satisfy creditor Property of community is liable for debts of either which are made before or after marriage; whole property may be sold on execution sale to satisfy creditor
Presumption Favored by doubtful cases except married spouses Must be expressly stated Strong presumption that property acquired by married spouses is community Must be expressly stated