Who owns a property when it is jointly owned?

When a property is jointly owned, both owners share the ownership of the land. This means that both the owners have legal rights to the use and possession of the land. In Massachusetts, joint ownership of property takes one of two forms. The first is “tenancy in common”, in which each owner holds an undivided interest in the entire property. This means that each owner can determine how their share of the property can be used and disposed of, including selling or transferring their interest to others. The other form of ownership is “joint tenancy”, in which each owner holds an equal share of the property. Both owners must act together during ownership of the property; if one owner wishes to transfer their share or sell the property, then the other owner must agree, as their ownership will be affected by the decision. In the event of death of one of the owners, ownership of the property typically transfers to the remaining owner, unless the deceased has left a will indicating otherwise. Whether a property is owned in tenancy in common or joint tenancy, both owners have the legal right to the use and possession of the property and must come to a mutual agreement in order to dispose of the property.

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