Joint Tenancy vs. Tenancy in Common: Which Protects Your NY Property? - Peter Zinkovetsky

From Avenue Law Firm - Joint Tenancy vs. Tenancy in Common: Which Protects Your NY Property? explores two common ways to co-own real estate in New York and how the ownership structure chosen can affect inheritance, property rights, creditor exposure, and future disputes. The discussion explains how joint tenancy, tenancy in common, and tenancy by the entirety differ for married spouses, unmarried owners, family members, and investment partners.

Discover how joint tenancy with right of survivorship allows surviving joint tenants to automatically receive a deceased owner's interest without that interest passing through probate. The episode also examines New York's four unities—time, title, interest, and possession—and contrasts joint tenancy with tenancy in common, where owners can hold unequal shares and generally pass their individual interests through a will or New York intestacy law. It also discusses New York Estates, Powers and Trusts Law § 6-2.2 and how New York generally treats co-ownership by non-spouses as tenancy in common unless joint tenancy is expressly established.

The conversation also covers deeds, co-ownership agreements, mortgage and property-tax obligations, probate, partition actions, creditor claims, and the risks that can arise when ownership percentages or financial contributions are not clearly documented. Learn how New York Real Property Actions and Proceedings Law § 901 can come into play in a partition dispute, how a joint tenancy may be severed, and how owners can convert a tenancy in common into a joint tenancy by preparing and recording an appropriate new deed.

Finally, the episode highlights guidance from Peter Zinkovetsky, Esq. and Avenue Law Firm on New York deed, title, and co-ownership matters. From Manhattan and Brooklyn properties to ownership involving spouses, siblings, investors, and other co-owners, listeners will gain a clearer understanding of how survivorship, estate planning goals, unequal ownership interests, the New York City Register, and properly drafted deeds can shape the future of jointly owned New York real estate.

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