Common Contracts
1 similar Tenants in Common Agreement contracts
Tenants in common agreement template canadaTenants in Common Agreement • August 15th, 2021
By the legal staff of the Seniors First BC Elder Law Clinic Important Considerations You may be asked to share ownership of your property (house, car, bank account, etc. with another person who is offering to help you “manage your affairs”. This person(s) may be an adult child or children, a close friend or an acquaintance. It may sometimes seem easier, more convenient, or simply a matter of estate planning to transfer all or part ownership of your property to another person(s), however, it is important to understand any and all legal implications before making such decisions. Joint Tenants vs. Tenants-in-Common If you are thinking about sharing ownership of your property, whether it be real property (like your house) or personal property (like your car or bank account), you should be aware of these general distinctions between the legal concepts of “joint tenancy” and “tenancy in common.” Joint Tenancy Nature of the Ownership Let’s say you are the sole owner of property, such as your
