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.