Joint Tenants:

Joint Tenants will all own an equal share of the property. If one party passes away, it will be passed to another party listed on the mortgage.

Tenants in common:

Tenants in common will all own a percentage of the property, but each person's share can be different.

If you choose to do this, you may wish to sign a Deed of Trust (we call this the Generation Home Agreement), which outlines each owners responsibilities towards the property.

You can read more about the Generation Home Agreement here.

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