Tenants In Common Or Joint Tenants With Right Of Survivorship In Michigan
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The spouses each have a survivorship right, and each is presumed to own the entire property. Neither can sell or transfer their interest in the property without the other's consent. Creditors of one spouse cannot put a lien on the property.
If you die without a will in Michigan, your children will receive an "intestate share" of your property. The size of each child's share depends on how many children you have, whether or not you are married, and whether your spouse is also their parent.
Survivorship (outliving your co-owner) affects more than just the four types of jointly owned property. It can also affect inheritance rights of heirs and devisees. In Michigan, a person must live more than 120 hours after their co-owner dies for the survivorship rights to take effect.
Joint Tenants with Full Rights of Survivorship is a form of co-ownership where each owner has an equal share in the property, and if one owner passes away, their share automatically transfers to the surviving joint tenant(s).
Twenty-eight days or more following the decedent's death, a person holding the decedent's property must deliver it to the decedent's successor when the successor presents the death certificate and a sworn statement. MCL § 700.3983.
In short, to force the sale of jointly owned property, you must first confirm title, then attempt a voluntary sale or buyout, file and serve a partition lawsuit, get an appraisal, sell the property, and finally divide the sale proceeds fairly.
Unlike Joint Tenancy, there is no “right of survivorship” in TIC, which means that when one co-owner passes away, their share of the property is typically passed on to their heirs or as specified in their will.
Joint Tenants with Full Rights of Survivorship is a form of co-ownership where each owner has an equal share in the property, and if one owner passes away, their share automatically transfers to the surviving joint tenant(s). This arrangement is common among married couples and family members.
Further tenancy in common allows parties to hold unequal shares of property interest. Joint tenancy requires each co-owner to hold equal shares of property. Further, co-owners must transfer the deed at the same time. In this sense, joint tenancy is rigid compared to tenancy in common.
Joint Tenancy Michigan recognizes both Joint Tenancy and Joint Tenancy with Rights of Survivorship as distinct types of property ownership. In a joint tenancy, two or more individuals own the property together, and each owner has an equal share in the entire property.
