Joint Tenants vs. Tenants In Common

An earlier blog written by Marcelina Policicchio explained the benefits afforded to a married couple owning a property in the Commonwealth of Pennsylvania as a tenancy by the entirety.  Which type of ownership is then best for couples who are not married? They have two options. They can own the property as joint tenants, meaning that they jointly own the whole of the property regardless of how much each partner contributes, or they can own it as tenants in common. Owning property as tenants in common means that they each own a percentage of the property, which percentage does not have to be the same for each party. 

A joint tenancy must be created by a single deed or other single document granting an equal, undivided (the right to each possess the entire property) interest to the property at the exact same time. The language creating a joint tenancy must be clear. It should specifically provide that the parties are being granted the property as joint tenants, with