Glossary - Letter J

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Joint tenancy

There are two types of joint ownership of a property: Joint Tenancy, and Tenancy in Common.

Joint Tenancy describes an agreement whereby two people buy a property and together own the whole of it without having a specific share each.

Joint tenants share equal ownership of the property, and they have the equal, undivided right to keep or dispose of (sell) it. If one of them dies, then the other owner will inherit sole ownership. This is the type of ownership most commonly used by partners and spouses.

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