Joint Tenancy

Explore joint tenancy in Canadian real estate — how co-ownership works, the benefits of survivorship, and how it affects estate and title planning.

Joint Tenancy

May 22, 2025


What is Joint Tenancy?

Joint tenancy is a form of property co-ownership where two or more individuals hold equal ownership with the right of survivorship.

Why Joint Tenancy Matters in Real Estate

In Canadian real estate, joint tenancy allows property to pass automatically to the surviving owner(s) when one tenant dies, avoiding probate.

Key features of joint tenancy include:
  • Equal ownership shares
  • Right of survivorship
  • Shared responsibility for mortgage and expenses

It is commonly used by spouses or family members. If any owner wishes to sever the joint tenancy, it converts to tenancy-in-common, where the right of survivorship no longer applies.

Understanding joint tenancy helps buyers and co-owners choose the best legal structure for their goals, estate planning, and shared financial obligations.

Example of Joint Tenancy in Action

Two siblings buy a cottage as joint tenants. When one passes away, full ownership automatically transfers to the surviving sibling without court proceedings.

Key Takeaways

  • Provides equal co-ownership.
  • Includes right of survivorship.
  • Common for spouses or family.
  • Avoids probate but limits separate wills.
  • Can be changed to tenancy-in-common.

Related Terms

  • Tenancy-in-Common
  • Right of Survivorship
  • Legal Title
  • Ownership Rights
  • Estate Planning

Additional Terms

Sales-To-New-Listings Ratio (SNLR)

The Sales-To-New-Listings Ratio (SNLR) is a real estate metric that compares the number of homes sold to the number of new listings in a given period.. more

Market Type

Market type refers to the classification of a real estate market based on supply, demand, and pricing trends, typically categorized as buyer’s,. more

Outparcels

Outparcels are stand-alone commercial properties located near or on the outer edge of a larger retail or shopping centre complex.. more

Halo Effect

The halo effect in real estate refers to the positive influence that a popular or high-end development has on the surrounding property values and. more

Sump Pump

A sump pump is a mechanical device installed in the lowest part of a basement or crawl space to remove accumulated water and prevent flooding.. more

Structural Integrity

Structural integrity refers to a building’s ability to withstand its intended loads without failure, deformation, or collapse during its lifecycle.. more

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