The joint tenancy exists when two
or more persons are an equal owners of the same undivided interest
in the real property.
In order
to create a valid joint tenancy, four unities must exist:
Unity of time.
This
means that the owners must have acquired their interest at the same
time.
Unity of title.
This means
that all owners must come into title on the same document.
For example: A and B are
joint tenants. B
sells his interest to C. A and C tenants in common because they
each took title on a different document at a different
time.
-
-
Unity
of interest.
This
means that all owners must have equal shares or interest in the
property.
-
-
For example, if there are
two owners, each must have a one half interest; for owners, each
must have a one quarter interest; eight owners, each must have a
1/8 interest; and so on.
-
-
Unity
of the possession. This means that all owners must have equal
rights of possession.
No one owner can be prevented from using the property by
the other
owner(s).
