What is the difference between Joint Tenancy and Tenancy in Common?

Joint  Tenancy  is the one in which two or  more persons  own the land with identical  interests in the whole of it.  Under the joint tenancy  the  right  of survivorship  applies i.e. the ownership of entire interest in the  property  passes automatically on the death of one joint  tenant  to the survivors.  The last  survivor  becomes the sole and absolute  owner.  And as regards to tenancy in  common, there is equitable  ownership of  land by two or  more persons in equal  or  unequal  undivided shares.  Under this tenancy,  each co-owner  may  sell  or  dispose of his share by  will.  There  is  no right  of survivorship i.e. a  share does not pass automatically on the death of tenant  in  common to survivor(s).

NB: Joint  tenancy  arises when the following  four  conditions exists: 

i). Each joint  tenant  must be entitled to possession  at  the same time.

ii). The estate or  interest each  has in  land must  be identical  i.e. each joint  tenant  is entitled to the whole of property  and has no excusive  entitlement  to any separate  part  of it.

iii). Each joint  tenant have  the same title to the land i.e.  their ownership must  be traced from  the  same instrument,  such as a conveyance to  ‘A”  and ‘B’ as  joint  tenant.

iv).  Each joint  tenant’s interest must  vest at  and subsist  for the same time.