Services
Jean Allen Escrow
COMMUNITY PROPERTY
JOINT TENANCY
COMMUNITY PROPERTY WITH RIGHT OF SURVIVORSHIP
TENANCY IN COMMON
TENANCY IN PARTNERSHIP
Parties Only Husband and wife or domestic partners Two or more persons (may be spouses or domestic partners) Husband and wife or domestic partners Two or more persons (may be spouses or domestic partners) Only partners (any number)
Division Ownership and managerial interest are equal except control of business is solely with managing spouse/partner Ownership interest must be equal Ownership interest is equal Ownership can be divided into any number of interest equal or unequal Ownership interest is in relation to interest in partnership
Title Title is in the "community". Each interest is separate but management is unified There is only one title to the whole property Title is in the "community". Each interest is separate Each co-owner has a separate legal title to his undivided interest Title is in the "partnership"
Possession Both co-owners have equal management and control Equal right of possession Both co-owners have equal possession Equal right of possession Equal right of possession but only for partnership purposes
Conveyance Personal property (except "necessaries") may be conveyed for valuable consideration without consent of other spouse/partner; real property required written consent of other spouse/partner, and separate interest cannot be conveyed except upon death. Conveyance by one co-owner without the others break his joint tenancy Real property requires written consent of other spouse/partner, and with separate interest cannot be conveyed except upon death Each co-owner's interest may be conveyed separately by its owner Any authorized partner may convey whole partnership property. No partner may sell his interest in the partnership without consent of his copartners
Purchaser's Status Purchaser can only acquire whole title of community; cannot acquire a part of it Purchaser will become a tenant in common with the other co-owners in the property   Purchaser will become a tenant in common with the other co-owner in the property Purchaser can only acquire the whole title
Death On co-owner's death, 1/2 belongs to survivor in severalty 1/2 goes by will to decedent's devisees or by succession to survivor On co-owner's death, his interest ends and cannot be deposed of by will. Survivor owns the property by survivorship On co-owners death the entire tenancy remains to the survivor. This right of survivorship is one of the primary incident of community property with right of survivorship. On co-owner's death his interest passes by will to his devisees or his heir. No survivorship rights On partner's death, his partnership interest passes to the surviving partner pending liquidation of the partnership. Share of deceased partner then goes to his estate
Successor's Status If passing by will, tenancy in common between devisee and survivor results Last survivor owns property in severalty If passing by Will, tenancy in common between devisee and survivor results Devisee or heirs become tenants in common Heirs or devises have rights in partnership interest but not in the specific property
Creditor's Rights Property of community is liable for contracts of either spouse/partner which are made after marriage and prior to or after marriage and prior or after January 1, 1975. Co-owner's interest can't be sold separately: whole property may be sold on execution to satisfy creditor Co-owner's interest may be sold on execution sale to satisfy creditor. Joint tenancy is broken, creditor becomes tenant in common Property of community is liable for contracts of either spouse/partner which are made after marriage and prior to or after January 1, 1975. Co-owner's interest can not be sold separately; whole property may be sold on execution to satisfy creditor Co-owner's interest may be sold on execution sale to satisfy his creditor. Creditor becomes tenant in common Partner's interest cannot be seized or sold separately by his personal creditor but his share of profits may be obtained by a personal creditor. Whole property may be sold on execution sale to satisfy partnership creditor
Presumption Strong presumption that property acquired by husband and wife/domestic partners is community property Must be expressly stated. Not favored   Favored in doubtful cases except husband and wife/domestic partners case Arise only be virtue of partnership statue in property placed in partnership