Three persons own a parcel of property with equial rights of use and posession. they have equal interest and acquire their interest by the same or different deeds. what type of ownership did they acquire?

When two or more people own property like a home, either as joint tenants or tenants in common, each individual owns a share (or interest) of the entire property. This means that specific areas of the property are not owned by any one individual, but rather shared as a whole. While joint tenants with survivorship are similar to tenants in common in many ways, particularly the right of possession with respect to the property, there are some important differences with respect to what happens when a co-owner dies.

This article covers the basic differences between joint tenants and tenants in common, and how survivorship is treated by each type of tenant classification. See FindLaw's Probate section, including Avoiding the Probate Process, to learn more.

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