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Joint Tenants in Common (JTIC)


Joint Tenants in Common (JTIC) is a type of ownership where two or more individuals hold a property together, but with different ownership shares. Unlike other joint ownership types, a JTIC ownership share can be passed on to a chosen beneficiary when one owner dies. The shares owned by each party may vary and are not necessarily equal.


The phonetics for “Joint Tenants in Common (JTIC)” would be: Joint – /dʒɔɪnt/Tenants – /’tɛnənts/in – /ɪn/Common – /’kɒmən/Put together, it would sound like: “joynt ten-uhnts in com-muhn”. For the acronym JTIC, it would be: “jay-tee-eye-see”.

Key Takeaways

  1. Equal Rights to Assets: Joint Tenants in Common or JTIC is a form of property co-ownership agreement where each party has equal rights to the property, regardless of their ownership percentage. This allows each owner to take decisions about their jointly owned property.
  2. No Right of Survivorship: Unlike other joint ownership agreements, the JTIC doesn’t have a right of survivorship. That is, should one of the tenants pass away, their share of the property wouldn’t automatically transfer to the surviving tenant(s). Instead, it becomes part of the deceased’s estate.
  3. Flexibility in Property Shares: One key feature of JTIC is that it allows for flexible divisions of property shares. That means one owner can hold a larger share of the property than the other owner(s). However, despite different ownership percentages, each owner has the right to use and enjoy the whole property.


The business/finance term Joint Tenants in Common (JTIC) holds significant importance as it governs the way that property and assets are owned and managed between two or more individuals. This type of ownership allows each party to own indivisible shares of the same property, which can be bought, sold, or passed on separately. Its primary importance lies in its relevance to estate planning procedures. In the event of a tenant’s death, their share does not automatically revert to the other joint tenants, but rather becomes a part of the decedent’s estate and is passed on according to their will or trust. Therefore, understanding JTIC is critical for any joint property owner or entrepreneur as it allows for more individual control and legal flexibility, while supporting key aspects of estate management.


Joint Tenants in Common (JTIC) is a type of account used primarily for ownership in real estate, tangible, and intangible assets where two or more people have shared ownership. It aids in enabling clear and streamlined legal arrangements, simplifying issues such as asset distribution and tax considerations. The primary purpose of a JTIC account is to combine assets, typically property, into a single legal entity with multiple owners, each with their own undivided interest, which can be equal or unequal shares.

Apart from shared ownership, the establishment of a JTIC account is often used as a strategic estate planning tool. This is because a distinctive feature of JTIC is that when one co-owner passes away, the deceased’s estate interest doesn’t automatically transfer to the surviving co-owners, unlike in joint tenancy. Instead, the deceased’s portion is inherited by their chosen beneficiaries as per their will or as guided by intestacy laws, offering flexibility in determining who inherits a decedent’s stake in the property. This provides peace of mind for parties who seek to maintain control over their portion of an asset after their demise.


1. Real Estate Partnership: Tom and Jerry are both interested in an investment property but neither has sufficient capital to make the investment alone. They pool their resources together and buy it as Joint Tenants in Common (JTIC). They decide that Tom owns 60% and Jerry owns 40% based on their contribution to the purchase. Now, if something happens to Tom, his share will be passed to his heirs rather than automatically transferred to Jerry.

2. Family Property Ownership: A father and lots of land. Upon his death, rather than leaving the whole property to one child, he decided to have the land divide equally among his three children as JTIC. This would allow each sibling to have an equal share of the land, the ability to sell their portion if they wish, and the right to pass their share on to their heirs.

3. Business Ownership: Sarah and James start a software development company together as JTIC. Sarah is the software engineer with about 75% of the company and James, who handles sales and marketing, owns 25%. If James passes away, his ownership would pass onto his heirs as dictated by his will or state law, rather than automatically going to Sarah.

Frequently Asked Questions(FAQ)

What does Joint Tenants in Common (JTIC) mean?

JTIC refers to a legal arrangement in which two or more people co-own a property or asset. Each party owns a separate, undivided interest in the whole property, and unlike joint tenancy, these shares can be of different sizes.

Is Joint Tenants in Common the same as Joint Tenancy?

No, they are different types of co-ownership. In Joint Tenancy, co-owners hold equal shares and if a joint tenant dies, their share automatically goes to the surviving co-owners. However, in Joint Tenants in Common (JTIC), co-owners can own unequal shares and can pass on their shares to a beneficiary of their choosing when they die.

What happens if a JTIC owner dies?

If a Joint Tenants in Common owner dies, their share of the property does not automatically go to the remaining owners. Instead, it will be passed on according to the deceased owner’s will or estate plan, or according to the laws of intestate succession if no will or estate plan exists.

Can a JTIC owner sell their share without the others’ consent?

Yes, an owner under JTIC can sell or mortgage their share without requiring consent from the other owners. However, the person buying the share would be entering into a JTIC agreement with the existing owners.

How can I change a Joint Tenancy into a Joint Tenants in Common?

Changing a joint tenancy into a JTIC can typically be done through a process called ‘severance’. This generally involves all parties agreeing to the change, and it’s advisable to involve a solicitor in this process to ensure legal requirements are met.

What are the advantages of being Joint Tenants in Common?

JTIC allows owners flexibility in dividing their ownership stakes. It can also provide a level of protection against creditors, as they can only make a claim against the debtor’s portion of the property. Additionally, it allows owners to independently decide who will inherit their share upon their death.

What are the tax implications for Joint Tenants in Common?

With JTIC, each owner is responsible for paying taxes on their own portion of the property, and capital gains taxes may apply if a share is sold. There may also be inheritance tax implications depending on who you choose to leave your share to. It’s essential to consult with a tax professional or financial advisor to understand all the potential tax implications.

Related Finance Terms

  • Shared Ownership
  • Equal Right of Possession
  • Property Co-ownership
  • Deed of Trust
  • Partition Lawsuit

Sources for More Information

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