Joint Tenancy

Joint tenancy is a form of co-ownership in which two or more parties hold equal, undivided interests in a property, with the right of survivorship. This means that if one co-owner dies, their share automatically transfers to the surviving owner(s) without going through probate.

In commercial real estate, joint tenancy is less common than tenancy in common due to the equal-share requirement and survivorship rules. However, it is sometimes used among business partners or family members seeking simplified succession planning for jointly held properties.