Ownership interests are equal and both co-owners must join in transferring or encumbering the property. Upon the death of one spouse, the deceased spouse's interest will pass by intestate succession or through a will. This is a method of co-ownership that allows a married couple to hold title as husband and wife while providing for succession outside of probate on the death of either spouse. Each spouse holds an undivided one-half interest in the estate. It requires signatures of both spouses to convey or encumber.
Joint tenancy is a method of co-ownership that gives title to the property to the last survivor.
There is one title to the whole property, and ownership interests cannot be divided. Title can be acquired by any number of persons or a husband and wife. This is a method of co-ownership where parties do not have survivorship rights and each owns a specific undivided interest in the entire title. Ownership can be divided into any number of interests, equal or unequal, any number of persons, or a husband and wife can acquire title. Upon a co-owner's death, his or her interest passes by will or succession.