Joint tenancy with right of survivorship is commonly used by married couples to own real estate, whereby spouses simultaneously own 100% of a property. When a joint tenant dies, their ownership.. What is Joint Ownership? Joint ownership is where two or more people . own an asset (for example, a bank account, real property or a vehicle). There are two kinds of joint ownership in British Columbia: 1. Joint tenancy: The joint owners hold an equal, undivided interest in the asset. When one owner dies, the title passes outside the deceased's

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The second form of co-ownership is called a joint tenancy. In a joint tenancy, each co-owner holds an equal share of the whole property. If one of the co-owners dies, then their share passes automatically to the other co-owners in the joint tenancy. The interest in the property cannot be left in a will because by the time the will takes effect.. There are two ways to jointly own a property—joint tenancy and tenancy in common. A joint tenancy is a legal construct under common law and means that each tenant owns an equal undivided share.