What is the difference between a joint tenancy and a tenancy in ...

[casperchen82]

What is the difference between a joint tenancy and a tenancy in common?
 
  What will be an ideal response?

Question 2

Statute of limitations set deadlines for cases to be filed.
 
  Indicate whether the statement is true or false

[kaylee05]

Answer to Question 1

A joint tenancy is co-ownership of property characterized by a right of survivorship.
A tenancy in common is a term that describes co-ownership of property carrying no right of survivorship. The key feature of joint tenancy is the right of survivorship. If one joint tenant dies, the remaining joint tenant or tenants inherit the property. With tenants in common, no right of survivorship exists; if one tenant in common dies, the property passes to the tenant's heirs.

Answer to Question 2

TRUE

[casperchen82]

Wow, this really help

[Missbam101]

Thanks for the timely response, appreciate it