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Joint tenancy is most common among married couples because it helps property owners avoid probate. Without joint tenancy, a spouse would have to wait for their partners Last Will to go through a legal review processwhich can take months or even years.
One disadvantage of being tenants in common is that all parties involved are responsible for monthly bills and any other property payments. Another obvious downside is the chance that one tenant will want to sell the property at some point, which can make it difficult for the others involved in the agreement.
Problems With Joint Ownership By jointly owning property, you may find yourself party to a lawsuit if your co-owner is sued or the asset could be lost to a creditor of your co-owner. If your co-owner becomes incapacitated, you could find yourself owning the property with the co-owners guardian or the courts.
Joint tenancy is a form of co-ownership where two or more individuals share equal ownership rights to a property. Each owner has an undivided interest in the property, and if one owner passes away, their share automatically transfers to the surviving owner(s).
A joint tenancy is a relationship in which co-owners have a right of survivorship, meaning that if one owner dies, that owners interest in the property will pass to the surviving owner or owners by law, avoiding probate.

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Potential risks associated with Tenants in Common (TIC) investments include: Illiquidity. Sponsor Performance. Additional Expenses. Tax Status. Conflicts of Interest. Past Performance. Potential for Property Value Loss. Potential for Foreclosure.

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