Joint Tenancy in Common is a legal arrangement where two or more individuals co-own a property or asset without the right of survivorship. In this arrangement, each tenant has an undivided ownership interest in the property, and they can hold unequal shares if desired. Despite the unequal interest, all tenants have equal access and rights to the property. Unlike Joint Tenants with Right of Survivorship, in Joint Tenancy in Common, if one tenant passes away, their share does not automatically transfer to the remaining tenants. Instead, tenants have the freedom to specify their desired distribution of assets through a will, allowing them to control the disposition of their share upon their death.
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