Joint tenancy is a form of property ownership where two or more people hold equal, undivided interests in a property with a right of survivorship, meaning if one owner dies, their share automatically passes to the surviving owners.
While joint tenancy is one of the simplest ways for multiple people to own property together, it comes with significant limitations for co-ownership arrangements. All owners must hold equal shares, any owner can force a sale through a partition action, and the right of survivorship can complicate estate planning. These risks make joint tenancy a poor fit for unrelated families who want to share a vacation home.
GoForth, a luxury co-ownership company, avoids the pitfalls of joint tenancy by structuring each property under a dedicated LLC with a detailed operating agreement. This gives each of the four co-owning families a protected 1/4 interest with clear rules for usage, expenses, and exits. The LLC structure offers liability protection and estate planning flexibility that joint tenancy simply cannot provide.