What is the difference between a joint tenancy with right of survivorship and a tenancy in common?
The difference between a joint tenancy and tenancy in common is significant. Under a joint tenancy with rights to survivorship, upon the death of the first owner, it automatically passes to the surviving owner. In a tenancy in common situation, you each own 50% of the property. So when the first property owner dies, it does not pass to the other property owner, but rather it passes to the estate of the person who died.