Definition of Joint Tenancy



Two parties acquiring the same land is known as joint tenancy.

For example, two persons buy land. At the time of buying that land, they will have a joint tenancy. They both will be the legal owners of that land. Therefore, they will have a joint tenancy.

 


This concept of acquiring land or buying land by two persons comes under joint tenancy.

In joint tenancy, both parties enjoy the benefits and at the same time, they both will bear the loss if any.

 

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