what does joint tenancy mean in real estate
Concurrent estate A concurrent estate or co-tenancy is a concept in property law which describes the various ways in which property is owned by more than one person at a time. If more than one person owns the same property, they are referred to as co-owners. If more than one person leases the same property, they are called co-tenants or joint tenants. Most common law jurisdictions recognize tenancies in common and joint tenancies, and some also recognize tenancies by the entirety. Many jurisdictions refer to a joint tenancy as a joint tenancy with right of survivorship, and a few U.S. states treat the phrase joint tenancy as synonymous with a tenancy in common.