| |
Tenancy in Common |
Joint Tenancy |
Community Property |
Tenancy in Partnership |
| Parties |
Any number of persons (can be husband
and wife) |
Any number of persons (can be husband
and wife) |
Only husband and wife |
Only partners (any number) |
| Division |
Ownership can be divided into number
interest equal or unequal. |
Ownership interest must be equal. |
Ownership and managerial interests
are equal. |
Ownership interest is in relation to
interest in partnership. |
| Title |
Each co-owner has a separate and
legal title to his undivided interest. |
There is only one title to the whole
property. |
Title is the "community."
Each interest is separate but management is unified. |
Title is the "partnership." |
| Possession |
Equal right of possession. |
Equal right of possession and
control. |
Both co-owners have equal management
control. |
Equal right of possession but only
for partnership purposes. |
| Conveyance |
Each co-owner's interest may be
conveyed separately by its owner. |
Conveyance by one co-owner without
the other breaks his joint tenancy. |
Personal property (except
"necessaries") may be conveyed as valuable consideration
without consent of other spouse, real property requires written
consent of other spouse, and separate interest cannot be
conveyed except upon death. |
Any authorized partner may convey
whole partnership property. No partner may sell his interest in
the partnership without the consent of his co-partners. |
| Purchaser's Status |
Purchaser will become a tenant in
common with the other co-owners in the property. Purchaser will
become a tenant in common with the other co-owners in the
property. |
Purchaser will become a tenant in
common with the other co-owners in the property. Purchaser will
become a tenant in common with the other co-owners in the
property. |
Purchaser can only acquire whole
title of community, cannot acquire a part of it. |
Purchaser can only acquire whole
title. |
| Death |
On co-owner's death his interest
passes by will to his devisees or his heirs. No survivorship
rights. |
On co-owner's death interest ends and
cannot be disposed of by will. Survivor owns property by
survivorship. |
On co-owner's death 1/2 belongs to
survivor in severalty, 1/2 goes by will to decedent's devisee's or
by succession to survivor. |
On partner's death his partnership
interest passes to the surviving partner pending liquidation of
the partnership. Share of deceased partner then goes to his
estate. |
| Successor's Status |
Devisees or heirs become tenants in
common. |
Last survivor owns property in
severalty. |
If passing be will, tenancy in common
between devisee and survivor results. |
Heirs or devisees have rights in
partnership interest but not in specific property. |
| Creditor's Rights |
Co-owner's interest may be sold on
execution sale to satisfy his creditor. Creditor becomes a tenant
in common. |
Co-owners interest may be sold on
execution sale to satisfy his creditor. Joint tenancy is broken,
creditor becomes a tenant in common. |
Property of community is liable for
contracts of either spouse which are made after January 1, 1975.
Co-owner's interest cannot be sold separately, whole property may
be sold on execution to satisfy creditor. |
Partners interest cannot be seized or
sold separately by his personal creditor but his share of profits
may be obtained by personal creditor. Whole property may be sold
on execution sale to satisfy partnership creditor. |
| Presumption |
Favored in doubtful cases except
husband and wife case. |
Must be expressly stated. Not
favored. |
Strong presumption that property
acquired by husband and wife is community. |
Arises only by virtue of partnership
status in property placed in partnership. |
