Joint Tenancy & Tenancy in Common: What's the Difference? Animated Real Estate Exam Concepts
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- Опубліковано 17 гру 2019
- When talking about property ownership, there are two ways you can own property: by yourself or with somebody else.
When you own a property by yourself it’s called ownership in severalty, while owning property with others is considered a concurrent estate.
The two types of concurrent ownership that come up most often on the real estate exam are joint tenancy and tenancy in common. So let’s take a closer look at how these two forms of concurrent property ownership are the same, and how they’re different.
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I literally listen to Prep Agent now instead of music. These short sweet straight to the point videos help understand the concepts so much better. Thank you!
I agree with you!
He speaks real fast and combines his words, so I find it difficult to understand him in a relaxed and efficient learning way. I have to really concentrate to understand the exact words he is saying, and listen. I don’t know if it’s his accent or something else. The pictures help but I’m not always near my phone or computer.
I passed my Texas exam yesterday! Wrote TTIP and other acronyms down as soon as they handed me the scratch paper. Thank you so much for your help!
Congratulations! 🎊 That’s a good idea. I’m going to have to use that. Thanks for sharing.
OMG I used to get these missed up. This video helped me so much. Able to visually see and understand how they work.
Thanks Joe! This was super helpful. I’ve been scratching my head trying to gain a better understanding by just reading to exam prep book, but most of this was missing. Great help, thanks!
I’ve been trying to get this for weeks! Super helpful!
This is gold! The best and most concise explanation of this that I’ve seen! Thank you!! 🙌🙌🙌❤️
I love your Channel!!! This is getting me through all my units
Thank you so much. This cleared things up for me.
These videos are absolutely amazing, One million thank you’s
I was sitting here so lost and the you explained it and omg i can relax again cause I understand now! Thank u!!!
What a great video. Thank you Joe.
OMG. Thanks so much! SO much easier to grasp than reading my courses online. I read them, make notes of what I really didn't get, and come looking for it here!
Thank you for explaining this!! Your videos are very helpful!
This video is extremely well done. Thank you!
Joe, thank you for all the good work.
This content is an absolute life saver
This is by far the most confusing part for me. I’ve watched this video multiple times and still can’t come up with a simple way to quickly determine the difference between TIC and JT.
Wish they came up with another memory trick of association for this one too
Think Time Percentages And Defaults
@@gocpng4699 i need a real life situation .. i CANNOT remember or comprehend this at all
Use percentages. JT - 50/50% ( Equal Shares) TIC - 70/30 (Unequal Shares)
Same here 😔
Thank you. Studying for Property Law.
Omg thank you thank you this was SUPER HELPFUL! Thank you!
Thank you Joe,this video helped me understand the comparison better.❤️🙏🏻😇🇺🇸
Omg you make it easy .. thank you
Bro this vid is gold thank you so much
So clear thanks !
great stuff simple and to the point
Thank you joe!
this was so helpful one of there topics I had trouble with!
such an incredible video
Awesome explanation!
Great Video. Will be uploading something about tenancy tomorrow in my channel. this is a big help to me
Thanks. Good explanation
Thanks! Big help
Thank you !!
This is an awesome example👍😀
Perfect video!!
Thank you!
Thanks Joe!
Very helpful 💯
So helpful!
This was very helpful for a law student!
omggg thank you for this i could not figure out the book
Just passed my AL exam about an hour ago on the first try! Thanks so much Joe!!!!
CONGRATS!
Raina congratulations I wish you the best. I haven't pass my class exam yet. But once I do I will go k. Forward with this exam
Very helpful
Hi Joe. I have a question. If seller asks the agent he or she would only accept cash offer, is the agent still legally required to present all offers or cash offer only? Thank you.
Do you have a video on tenancy by the entirety?
Thank you for this explanation because the Georgia real estate exam books explains this in such a complicated way. Why can’t they simplify these things.
Joe thank you man really I’ve been over looking survivorship and division in tenancy with common as well as which can leave for heirs in death and testate. Your awesome!! Hope to speak with u one day . I have many questions on your website / business and what you offer?
This may be a silly question but which public institution keeps a record of deeds and titles? The County Registrar? Does it depend on the state?
Hello, I have a question:
In the example in minute 3:45 “Tenants in Common” What happens if one person dies without a will, and has no family? Will her part be divided equally to the other two owners?
Question! In minute 2:15 - If Joe moved to Panama, Stephen is a tenant in common but what about Arthur and Adrian? What are they considered? Joint tenants still or now they're all tenants in common?
Tenants in common, as he said in the video, Stephen DID NOT enter the ownership as a Join Tenants. Stephen DID enter as a Tenants in common. That makes the other two (Arthur & Adrian) become Tenants in common.
This will fall back to the TTIP condition. 'Time' factor will turn Arthur and Adrian in Tenant in common.
Subscribed
excellent
where in the contract does it says what type of tenancy you have? or is it in the title commitment?
like your video...I think the video is perfect...my brain is just a lot slower to piece it together...lol...the pictures help a bit.
I'm so glad I learned about Pythagorean Theorem instead of this in high school. I mean, sure, I'm 40 years old and in the process of buying our first home. I have no idea what any of this means, but I can confidently tell you, without equivocation, that a2 + b2 = c2.
Cheers! ^
What if there is no will in Tenancy in common? How is the remaining portion of the property distributed?
Can a joint tenant sell or will there part to someone else without concent of the others
Is a co-op an example of tenant in common with a corporation?
And how are we to remember that for the test?
Still A Classic A Good One With Clear Ecplanations Thanks.
Greetings and Salutations 😊
Here's how I think of it... TENANTS in COMMON (they have a lot in common and are good friends/Family) so they hang out with all the same people and therefore are cool with having their share WILL bc it will go to the same group of friends/familythey are all cool with... they are cool with each having different amounts of shares, at different times and trust each other enough to get it from separate conveyances... THEY ARE BUDDIES AND HAVE 100% TRUST.
JOINT TENDENCY : they are a bunch of stoners who are acquaintances that smoke a joint together...
They got to buy the joint at the same time, smoke at the same time (ownership), and if one dies the rest of them get the rest of the joint but won't give it to someone outside the group cause they paid for that shit...
Is my brain strange or does that make it stick easier?
Tenancy In Common, nothing is common except the property.
So joint tenancy cannot have heirs?
What's the difference in marriage ;licenses how they relate joint tenancy?
So is Author & Adrian still joint tenants or are all 3 just tenants in common? 🥺😳😓
👍
What about tenancy in entirely
I am in a joint tenancy with my sister and Brother in law. They want me to be the sole owner, how do we achieve that. They did that to help me purchase the home.
Buy them out.
@@rkml59 thanks
They might also quit claim it to you if the property is paid in full. Did you and only you make the payments?
@@rkml59 yes I make all the payments.
@@pdubstuff that's great! Is the mortgage paid in full?
If a husband and wife purchase a property as joint tenants and husband gives all his interest to wife, what is it called now?
When one does not contribute to property and is put on then leaves for 18 years with no financial up keep of property but the purchaser alone then joiner come in to claim half what ? Is this wrong so one work and others collect .and people sit and it ok yea ...
3:07 is confusing me, it says joint tenants has the unity of survivorship and than it’s says the interest of the deceased owner transfer to the surviving owners..How ? it should go to their estate, joint tenancy has right of survivorship
What if Vivian and Carol hate Stephen, but he doesn't want to sell?
These terms are both so similar it's hard to tell them apart. UGH.
2:49 the rate of survival indeed "differs" greatly
4:25 #corporation real #estate "terms" also differ greatly ... they do not escheat, they tend to #resolve
Right of survivorship throws me off. I keep getting it backwards.
J. T turns to t.i.c
Who makes all this absurd laws..ridiculous
Very helpful