Yes. Ways of holding joint property vary by state.

  • Sole tenancy: One individual has ownership, and property is passed on in accordance with their will at death.
  • Joint tenancy with privilege of survivorship: Two or more people have equal ownership, and property is passed to the joint owner upon death. Essentially avoids probate.
  • Tenancy in common: Property has joint ownership with privilege of survivorship. Property is passed down in accordance to the will upon death.
  • Tenancy by the entirety: Similar to joint tenancy with privilege of survivorship. This is only possible for spouses, and prevents the spouse from getting rid of the property without the other’s consent.
  • Community property: Available in some states. Property gained through marriage with equal ownership.