If you have. "Half" relatives inherit as if they were "whole. In estate law, joint tenancy is a special form of ownership by two or more persons of the same property. Furthermore, each co-owner may control an equal or different percentage of the total property. In Phoenix, Arizona, there are two main types of warranty deeds that can be used to transfer separate property in this manner: 1. Arizona offers two ways to accomplish this: a quit claim deed or a warranty deed. R. Joint Tenancy can negatively impact your estate planning. A joint tenants deed with rights of survivorship is established in ARS § 33-431 and allows for multiple parties to own a property together in Arizona. Joint tenancy is a form of ownership where both people share ownership equally. When you add your spouse to the deed, however, the spousal basis is still what you paid for the property. S. With these. C. ) “A joint tenancy is an estate held by two or more persons jointly, each having an equal right to its enjoyment during his or her life. Separate property may also include property designated as separate by the husband or wife or by court. 50/50 Community Property Division. Ownership stake is jointly shared between the two individuals, whether they’re spouses, partners or even roommates. A deed to two or more new owners only creates a joint tenancy if the deed expressly states that the new owners take title as joint tenants. Joint tenancy can be useful for estate. Separate property A. 4th 1068. Tenants in common have separate titles,. Say one spouse inherited a house from their parents, and rent out the dwelling. 75 A. A deed conveys the ownership of property from a seller (“grantor”) to a buyer (“grantee”). There’s no need for those assets. Buying a home is always a commitment with risks, but joint tenancy allows both parties to share the benefits of home ownership. 2d 1317, 1332; see Code Civ. In order to sever the right of survivorship, a tenant must only record a new deed showing that his or her interest in the title is now held in a Tenancy-in-Common or as Community Property. You can change this only by giving up your rights in the home. A joint tenant can indeed sever the right of survivorship WITHOUT the consent of the other joint tenants. ”. This includes real property. Tenancy in common distributes the. 3. It is an undivided ownership; in other words, all owners own the entire asset. Words in the deed such as “Bill, John and Mary as tenants in common” establish tenancy in common. gifts or inheritances that one spouse received, either before or during the marriage. Use a check mark to indicate the answer. The deed is then recorded, thereby severing the joint tenancy. The common law system provides that property acquired by one member of a married couple is owned completely and solely by that person. — If a party alleging that property held in joint tenancy was meant to be separate, to prevail there must be either a clear designation of that intent, or enough evidence to overcome the presumption of community property. Share your form with others. state-level legal distinction of a married individual's assets. Property is anything you can buy or sell or has value. For simplicity, much of the language relating to beneficiary deeds refers to a single owner. Here is how it works: The house is sold for $800,000. There are three common forms of home ownership. The definition of marital property applies to assets earned, purchased or acquired in just about any way other than a unilateral transfer. If a condition applies to one owner but not to the other, there is no unity of title; 3) Each owner must have an. You and your co-owner need not own. The partners may hold different percentages of the. Title: Each owner must receive the title on the same deed showing title. If fractional interests are stated, they must total 100%. Joint tenancy is when each owner has equal shares in the property. This is a form of vesting title to property owned together by spouses or by registered domestic partners. B) Joint tenancy with right of survivorship (JTWROS), tenancy by. There are many other types of deeds, such as warranty deed, joint tenancy deed, easement deed, trust deed, etc. A joint tenancy deed can be established without rights of survivorship and the property share would pass to the designated beneficiaries. Note that a joint tenancy with rights of survivorship can be severed if one of the co-owners deeds all or part of that person’s ownership interest to another party, or puts it. No lawsuit is usually required. m. Property acquired during the relationship, but before the legal marriage, remains a separate asset. However, exemption code A7 could also apply. The advantage of joint tenancy is that upon death of one of the joint tenants, their interest is transferred outside probate to the surviving joint tenant(s). Purchasing real estate together is a big step that shows commitment to one another. For example, four joint tenants of the same property each own one-fourth of the property. 37 (Bankr. When a joint tenant dies, title to the property is automatically conveyed by operation of law to the surviving joint tenant(s). Joint tenancy is an arrangement that allows beneficiaries to access your account without having to go to court. Murin took title to the whole property in the divorce. Two. Please consult one of our attorneys for detailed information on each category. The. Each joint tenant must have equal shares in the property For e. spouse signing a quitclaim deed to the property. Joint tenancy is a legal term for an arrangement that defines the ownership interests and rights among two or more co-owners of real property. The deed is then recorded, thereby severing the joint. Joint tenancy with right of survivorship (“joint tenancy” or “JTWROS”) is just one of numerous ways multiple persons can hold title to real property. So if two people own the property, each controls 50%. As with the tenancy in common, there’s no need for a will or probate, because after one spouse dies the surviving spouse automatically takes ownership. Type text, add images, blackout confidential details, add comments, highlights and more. Joint Tenancy: A type of property right where two or more people own or rent a property together, each with equal rights and obligations, until one owner dies. 2d 818 (1970), the Arizona Supreme Court considered several quitclaim deeds a spouse signed. The three main types of property ownership and debt-sharing schemes are community property, tenancy by the entireties, and common law. 2. S. It was bought with community property income (income earned during the marriage) A family home, which the deed states is owned by you and your. The most common exemption code related to a divorce is A5, which refers to a conveyance recorded to satisfy a court order. For example: Bruce Buyer, a married man and George Buyer, a single man, as joint tenants. Message. All joint tenants will have equal interests in the jointly-owned property, typically 50/50. Property is either separate property or community property. Warranty Deed to Separate Property of one Spouse to both as Joint Tenants: In this type of deed, the separate property of one spouse is transferred to both spouses as joint tenants. Must be expressly stated in writing and accepted. Baldwin’s son claims, gives married people only two ways to hold property: (1) They can own it together as community property. A joint tenancy with right of survivorship is a common form of co-ownership in which each owner has a right of survivorship with respect to the other owners. Joint Tenancy with right of survivorship is a method of co-ownership that gives title to the real property to the surviving tenant (s) upon death of a joint tenant owner. B and A each hold a 50% interest. SEPARATE PROPERTY. In Armer v. 37, 38, 155 N. For example, if you own a 50% interest as a tenant in common, the beneficiary named in your beneficiary deed becomes a 50% owner on your death. This is typically between business partners, as well as married couples. §33-405 (statute includes a sample form) • Beneficiary deeds (A. Court will not presume joint tenancy. Winters, 298 P. 15A-146A joint tenancy is a way two or more people can own something together, from a house to a painting of Whistler's mother. Sign it in a few clicks. The deed must explicitly stipulate a joint tenancy, and the owners must be explicitly identified as joint tenants. Tenants in common, like joint tenants, share the right to possess, sell, and encumber the property. In estate law, joint tenancy is a special form of ownership by two or more persons of the same property. Deciding on the best way to hold title in California can be complicated on account of the many factors that must be taken into consideration. 18 (joint tenancy by donee). This ownership structure is specifically for married couples. 1. A)Joint tenancies may only be established between spouses. By bringing a co-owner onto the deed, you relinquish a part of that control. In Arizona’s version,. the portion of certain personal injury awards meant to compensate for. Most importantly, a joint tenancy creates a “right of survivorship,” which means that when one owner dies, his or her interest passes to the. R. And in California, that. An adult daughter inheriting the property after the. If one joint tenant passes away, their ownership share in the property is passed on to the remaining joint tenants. A separate law called the doctrine of necessaries may obligate you to pay your spouse’s debt. Therefore, joint tenancy property is not subject to disposition by will. Not all community property states will let a creditor file a lien on joint property where only one spouse is a judgment debtor. “The law in this state recognizes that a joint tenancy may be held by two or more persons in personal as well as real property. if you have no issue when you die but have surviving parents. When one owner dies, ownership interest automatically passes to the other tenant. On the death of the tenant in common the deceased persons ownership in the property is left to his or her heirs or as specified by Will. Separate property A. When multiple owners are not joint tenants (or a married couple with right of survivorship), then the beneficiary deed becomes effective as to the signer’s share of the property at their death. In Arizona, property law is governed by ARS Title 33. Probate is not avoided when the last owner dies. If you are married and own property jointly, you should make sure you have the right form of ownership. Arizona law specifies that a trust deed on community property is not valid unless both spouses execute and acknowledge it. Surprise Arizona Warranty Deed for Husband and Wife to Five Individuals as Joint Tenants A professionally-drafted document by US Legal Forms can help you spend less time and costs, and stress. 3. You are merely signing over your legal interest, if any, in the property. Tenancy by Entirety 1. Sole And Separate Property In New Mexico, property can be owned as separate property, community property, in joint tenancy, or as tenancy in common. R. Surprise Arizona Joint Tenancy Deed from Husband and Wife to Husband and Wife A professional document by US Legal Forms will assist you to spend less money and time, and stress. Joint Tenancy What is Joint Tenancy? Two or more individuals can own assets together in joint tenancy. A7. Married persons should be aware of whether the state they live in is a community property state; if it is, the spouse will take some interest in any property acquired during the marriage. The amount of tax depends on your relationship. Only clear and convincing evidence proving that was his a spouse’s intention can rebut this presumption. In a joint tenancy, two or more persons, known as the co-owners, own property together. See Chester H. Another way to sever a joint tenancy is for one of the joint tenants to simply offer to buy the other joint tenant’s interest in the property. If a living joint tenant transfers all or part of his. Marital property includes: Real property you and your spouse bought during the marriage, except for any contributions of your separate property you may have made to such property, like paying part or all of the down payment with separate property funds; Personal property, like cars, boats, airplanes, furniture, and artwork you and your. Since no probate was required for property held in joint tenancy (the “right of survivorship” part of joint tenancy means the surviving joint tenant receives the property without having to go through the probate process), most married couples opted for joint tenancy rather than community property. The property remains under the umbrella of joint tenancy with the right of survivorship unless action is taken to alter the title. While joint tenancy can apply to personal property, bank and brokerage accounts and. No severance of a joint tenancy pursuant to subdivision one of this section shall terminate the right of survivorship of any non-severing joint tenant or tenants as to the severing tenant's interest unless the deed or written instrument effecting the severance is recorded, prior to the death of the severing tenant, in the county where the real property. 9. Washington State. First, the Court of Appeals considered whether the trial court had the authority to find that the husband had gifted a half interest to his wife. Your effective gift deed must have several traits and components: It is created to make an immediate transfer of the owner’s interest in the property, and an actual delivery of the property. People or parties that wish to own property together as joint tenants can do so by including the following words in the deed after their names: “as joint tenants with rights of survivorship, and not as tenants in common. CHAPTER 3. Of course, if the title or deed to a piece of property is put in the names of both spouses, however, then that property would belong to both spouses. This is a statutory presumption that all property acquired by husband and wife is community property. Joint Tenancy can negatively impact your estate planning. At Keystone Law Firm, we use our estate planning experience to help clients like untangle property issues relating to your estate plans. In the case of real property owned as joint tenants with right of survivorship, the right of survivorship is extinguished as provided in § 14-2804 or on the recordation in the office of the recorder of the county or counties where the real property is located an affidavit entitled “affidavit terminating right of survivorship” executed by. Community property is a method of co-ownership for married persons only. In contrast to a joint tenancy, tenants-in-common own the same property in definite and separate shares. In those cases where a deed or other recorded documents are filed, the deeds and certain other recorded documents must be. Title must have been acquired at the same time, by the same conveyance, and the document must expressly declare the intention to create a joint tenancy estate. Arizona property law has several notable rules: State the grantor’s and grantee’s full name on the gift deed, along with their. Tenancy by the Entirety. 933 (1931). Burden of proving separate property interests. Call us at (480) 418-8448. However, there are contrary arguments that can be made, including fraud or mistake, or the fact that the community paid the mortgage and other expenses associated with the home. Each form must be notarized. 01. R. Property owned in joint tenancy (often called "joint tenancy with right of survivorship" or "JTWROS") automatically passes, without probate, to the surviving owner (s) when one owner dies. In 1995, the Arizona legislature made the. Upon death, the decedent’s interest passes. E. • if no fractions are stated in the deed, the tenants are presumed to hold equal shares. Each joint tenant also has an equal interest in the property with all other owners. Upon the death of the parent, the property passes to the surviving joint tenant. If a married couple acquires title as joint tenants with the right. For example, say that you have a job earning a regular salary. These deeds filed. 12. Joint tenancy with right of survivorship (“joint tenancy” or “JTWROS”) is just one of numerous ways multiple persons can hold title to real property. Ashley and Braxton, a married couple, purchase a home as joint tenants with right of survivorship for $200,000. When a property is held in joint tenancy, for example, every person in that agreement owns an equal share of the property. The male co-owner later obtained a second mortgage for $100,000 in his name alone. Contact Adam today at 480-750-7337 or by email at adam@gundersonlawgroup. R. During their joint lives, each spouse has an undivided, fractional. Sporty and studious, caring and loyal, John is a father of two wonderful children (and Cooper the dog). R. Megarry and Wade,JOINT TENANCY. Under a Joint Tenancy the co-owners are effectively the full owners and own equal undivided shares in the property. Each joint tenant holds an equal and undivided interest in the estate. A joint tenancy can be created only by the intentional act conveying a deed or giving the property by Will, not implied or created by operation of law. State probate law determines whether property passes without probate. If interests are not stated, equal shares are. Egizii, (Ariz. In Alaska, spouses can enter into a community property arrangement by written agreement. Click on the New Document option above, then drag and drop the document to the upload area,. When you add your spouse to the deed, however, the spousal basis is still what you paid for the property. • when 2 or more single individuals or couples acquire title to Real Estate and the form of. Revise it with your favored offline or online editor, fill it out, sign it, and. Comp. An ‘Affidavit-Death of Joint Tenant,’ executed by plaintiff and appended as an exhibit to plaintiff’s third amended complaint, indicates that the property was acquired by a joint tenancy deed ‘executed by Jettie N. With respect to a deceased joint tenant, the termination or extinguishment by death of that tenant's joint tenancy with right of survivorship may be evidenced by the recordation of both of the following items in the office of the recorder of the county or counties where the real property is located: 1. A6. Pappas, 259 Mass. A joint tenant has an ownership interest in the property that is equal to the interest of the other joint tenants. A spouse's real and personal property that is owned by that spouse before marriage and that is acquired by that spouse during the marriage by gift, devise. At common law such a deed lacks the four-fold unities of. 3. In Arizona, deeds of trust are creatures of statute. The male co-owner later obtained a second mortgage for $100,000 in his name alone. Quit Claim Deeds. A joint tenant may transfer their interest unilaterally, and without the knowledge and/or consent of the co-tenant (s). any property one spouse owned alone before the marriage. B1. e. The parties need not be married to take title as joint tenants, and there may be more than two joint tenants. “In order to constitute a joint tenancy, four requisites must exist, namely: The tenants must have one and the same interest; the interest must accrue by one and the same. com. Rather, the court will divide property between spouses in a way that it considers fair. In a warranty deed, the grantor promises to pay for any lawsuits or damages due to undisclosed ownership. Various forms of joint ownership are possible, including joint tenancies, tenancy by the entirety, and tenancy in common. A joint tenant can indeed sever the right of survivorship WITHOUT the consent of the other joint tenants. who owns separate property and also was a tenant by the entirety or joint tenant, then the survivor should, in addition to the probate pro-ceedings in connection with the separate property, prepare and file the affidavit and death certificates under Wyo. Beneficiary deeds; recording; definitions. The Components of a Gift Deed. The Arizona Court of Appeals in a memorandum decision in the case of Jimenez vs. 00 is paid to the spouse who had the Family Code 2640 reimbursement claim. Created by the same conveyance (deed or will). 06 million ($24. Disposition. (In re Marriage of Rossin (2009) 172 Cal. Enter your official identification and contact details. Separate Property. Arizona courts presume a gift when a spouse places separate real property in joint tenancy with the other spouse. Separate(The root of. the other hand, the essence of a joint tenancy was the existence of. There are many reasons why it may be a very bad idea to transfer property into, or to own property in, joint tenancy: Prescott AZ lawyers. a. Tenancy in common is a form of joint ownership, where two or more individuals own an equal or unequal share of a property. Though the arrangement will last as long as their marriage, it can be dissolved by mutually agreeing to gift the property to a different party, death, or divorce. That’s because you’ll need all of the owners to be available to sign over the deed. Joint tenancy is sometimes called "joint tenancy with right of survivorship. Sunwest Bank (In re Fingado), 113 Bankr. Even if you divided everything informally when you separated, a judge still needs to make a formal order about these issues. When a property is held in joint tenancy, it means that two or more people own it equally. If two or more people share rights to the property, things get a little bit more complicated. )The property deed and state law determine the legal nature of homeownership. A deed that contains the spouses’ names followed by words of inheritance or succession but without words of survivorship will create a tenancy in common. 02. Anytime you gift another person property valued over $15,000, you have to fill out a gift tax form. In Tennessee, special warranty deeds are statutory. App. 566. Placement of Properties into Joint Tenancy by Husband Constituted a Gift of Separate Property Spouse Gifting Property Through Joint Tenancy is Not Entitled to Reimbursement Judge May Not Unequally Divide Joint Tenancy Property That Results from a Gift of Separate Property in Arizona Impact of Joint Tenancy Deeds on Community Property in Arizona separate property contributions when dividing community property in arizona; property held as joint tenants with rights of survivorship in an arizona divorce; dividing retirement accounts in an arizona divorce; arizona divorce debt; effect of placing community property into a family trust in arizona; community property lottery winnings in. A tenancy by the entirety is a form of joint ownership that protects property from creditors of either spouse. Upon the death of an owner, the decedent’s interest ends and the survivor owns the property. He is, however, first to admit that the team around him run the show, and he’s incredibly proud of each and every one of them. (Don't include the quotes. Of course, if the title or deed to a piece of property is put in the names of both spouses, however, then that property would belong to both spouses. (3) The duration of the marriage and the age and physical and mental health of both parties. , ownership by two or more persons at the same time. In rather sweeping terms, for two reasons, the Siberell Court declined to extend Dunn’s rule to joint tenancy deeds in the context of divorce. Virginia. Joint Tenancy is the most common type of co-ownership title. A conveyance of real property that is executed pursuant to a court order. Yes you can deed the property from yourself to you, wife and son just as you say, and the documentary transfer tax will be waived assuming you fill out the Preliminary change of Ownership. This form is a Warranty Deed where separate property or joint property is converted to a joint tenancy holding. Murin cites the Arizona Supreme Court opinion in Rundle v. A joint tenancy can only be created by intention or by will, not by implication or operation of law. Strong presumption that property acquired by married couple* is community. spouse signing a quitclaim deed to the property. Recording the deed as directed "shall be notice to all persons of the existence of such grant, deed or instrument" (A. the gift or inheritance is classified as marital property, which can be divided between the spouses. Probate isn't required – the deed itself transfers the deceased spouse's ownership interest. A surviving joint tenant automatically takes a deceased joint tenant's interest. The three right of survivorship deeds are: joint tenancy, tenancy by the entirety, and community property. As of July 20, 1996, the Arizona legislature effectively abolished the requirement of the "straw deed" and the necessity of joint. 02. 92 million per individual as of 2023. Depending on the state, there are ways to title a deed for joint ownership. If I understand your situation correctly, you disclaimed your entire ownership in the house and gave your interest to your husband. Gila County Recorder Office 1400 East Ash Globe, AZ 85501 Phone (928) 425-3231 FAX (928) 425-9270 Office Hours: 8:00 a. Decision. A quitclaim deed is legally binding. . A deed to an unpatented mining claim. A joint tenant can indeed sever the right of survivorship WITHOUT the consent of the other joint tenants. (Or, if there are three joint tenants, only at the death of the first two, and so on. If you wish to terminate your joint tenancy while retaining an interest in the property, there are a few options to consider. If the joint tenants agree on a purchase price, the seller prepares a deed to convey the real property to the other joint owner. Schedule Your Consultation Transmuting Separate Property into Community Property in Arizona How marital property, assets, and debts, are to be divided is an issue that must. Baldwin could only hold property as community property. Property law in Arizona falls under ARS Title 33 of the Arizona Revised Statutes, and joint tenancy with the right of survivorship is under ARS Title 33-431 of the same Statutes. C. 9 Code §2040 requires complete inclusion of JTWROS property in the gross estate of joint tenant – except for such portion as is contributed by the other joint tenant. The trusts can provide that the property on the death of one owner passes to the other owner, without the need for a probate. Joint Tenants with Right of Survivorship - JTWROS: Joint tenants with right of survivorship (JTWROS) is a type of brokerage account owned by at least two people, where all tenants have an equal. Disadvantages of joint tenancy. Sole and Separate: Real property owned by a spouse before marriage or any acquired after marriage by gift, descent of specific intent. Deeds of trust are used in place of mortgages and are favored by lenders because no judicial “foreclosure” is required. Discover all you need to manage records electronically on one platform: up-to-date blanks, PDF editor, and electronic signing features. They acquired the property at trustee sale and took title subject to an existing mortgage. First, we look to the law. entire property is includable in that owner's gross estate. In a community property state, if the deed says the property is owned "as husband and wife," that means community property. The common law system provides that property acquired by one member of a married couple is owned completely and solely by that person. Note: Arizona is a community property state. You must determine whether you will own the property as joint tenants or tenants-in-common. However, that isn’t always the case. As of July 20, 1996, the Arizona legislature effectively abolished the requirement of the “straw deed” and the necessity of joint tenants to all take their interest at the same time. Enter your search criteria below. In order to sever the right of survivorship, a tenant must only record a new deed showing that his or her interest in the title is now held in a Tenancy-in-Common or as Community Property. How should Dad value a gift of a joint tenancy interest in property?. S. The heirs at law or devisees of the deceased joint tenant take no interest in the property through him, because only the last surviving joint tenant has an estate ofDiscover Pennsylvania Warranty Deed for Separate or Joint Property to Joint Tenancy templates made by professional lawyers and avoid the costly and time-consuming process of looking for an lawyer or attorney and then paying them to draft a document for you that you can easily find on your own. Unless the joint tenancy with the right of survivorship is otherwise disposed of in a final order of divorce or annulment, if either party to an instrument of title creating a joint tenancy with the right of survivorship files an affidavit in the real property records maintained by the clerk of superior court of the county in which the real. In a community property state — let’s say California — your ownership rights are automatic for a house acquired during your marriage. A deed of gift. Recording – All deeds must be filed with the County Recorder’s Office [2]. N. 130. Joint ownership of real property can be categorized as the three most common types of ownership: Tenants in Common (“TIC”); Joint Tenancy; and. If you co-own the property as joint tenancy or community property with right of survivorship, the other owner receives your share of the property upon your death. Robert Fleming September 18, 2022 Print Article Arizona is one of the minority of states recognizing the concept of community property. Upon an owner's death, that owner's. As discussed below, some of these methods of ownership are not available to every couple. Wisconsin. This is a form of vesting title to property owned together by spouses or by registered domestic partners. separate property character of an asset acquired by spouses during marriage. PROPERTY RIGHTS AND LIABILITIES. Your manner of holding does not have to be 50-50, and tenants-in-common can have unequal shares. Different forms of holding title among multiple owners have differing legal ramifications, especially upon the death of one or more of the co-owners. A joint tenant can indeed sever the right of survivorship WITHOUT the consent of the other joint tenants. U. We explain each of these deed types in detail below. The total amount of property a person owns is. 00. Joint tenancy is a type of property ownership between two or more owners. Even when one party contributes the entire subject matter, the rights of each are the same. Upon the death of an owner, the decedent’s interest ends and the survivor owns the property. Once you have signed up and purchased your subscription, you may use your Idaho Warranty Deed for Separate or Joint Property to Joint Tenancy as often as you need or for as long as it continues to be valid where you live. Learn why you should terminate them with experienced estate planning attorneys. Not every deed that describes the co-owners as joint tenants is sufficient to create a joint tenancy. How does the state characterize property taken by spouses under a deed reflecting that the property is held in joint tenancy? Strong presumption that it is community property. Size of Probate Homestead. If you are a co-owner or a joint tenant of property owned as a joint tenancy, that property automatically passes at your death to the remaining joint tenants without the expense and delay of probate. The joint tenants must have undivided interests in the whole property, not divided interests in separate parts (3) Unity of title. Tenancy in common. Arizona property law has several notable rules: State the grantor’s and grantee’s full name on the gift deed, along with their marital status and mailing addresses. Beneficiary deeds; recording; definitions. D)Each joint tenant in a joint tenancy has an undivided, equal interest in the property. Arizona. A spouse's real and personal property that is owned by that spouse before marriage and that is acquired by that spouse during the marriage by gift, devise or descent, and the increase, rents, issues and profits of that property, is the separate property of that spouse. Each joint tenant has an equal, undivided interest in the whole property. Understanding Beneficiary Deeds. He argued that the property was held by the spouses as joint tenants or remained the separate property of the husband. New co-owners of Texas real estate must create a separate survivorship agreement if they want to own the property as joint tenants with right of survivorship. Johnson to Raymond Johnson and Hazel Johnson (now known as Hazel Tenhet) as joint tenants. In many cases, this is a very bad idea. The individual circumstances of your case will impact property division in your divorce. Joint tenancy co-owners almost always have equal shares. Which one of the following statements regarding different forms of property co-ownership is CORRECT? A) Joint tenancy with right of survivorship (JTWROS), tenancy by the entirety (TBE), and community property (CP) are all forms of co-ownership that can be used by a husband and wife. 1. In addition, this is what will happen with your separate property: A.