How you hold title matters: joint tenancy versus tenants in common

Ontario buyers usually choose between two ways of holding title with someone else. Joint tenancy includes a right of survivorship: if one owner dies, their interest passes automatically to the surviving owner. Tenants in common means each owner holds a specified share that forms part of their estate.

Couples often choose joint tenancy for simplicity. Friends, siblings, parents contributing unequally, or blended families frequently choose tenants in common so shares reflect contributions and estate wishes.

Decide before closing, because your lawyer registers it, and put a co-ownership agreement in place if the owners are not spouses. It should cover expenses, exit, buyout valuation and what happens on default.