You own the asset outright. Joint tenants with rights of survivorship You share the asset equally with one or more joint owners. Tenants in common Each owner owns a part, or share, of the whole. Individual shares can be sold, given away or left as owner wishes. Tenants by entirety You must be married.
Mutual consent is needed to divide or sell the property.
In the nine states with community property laws, most property acquired after marriage is owned equally by both partners. Once property becomes community property, it remains such even if you move out of the state. Inc. All Rights Reserved.