The Canadian Real Estate InvestorWhat's the Best Way to Purchase a Property With a Partner?
Nick & Dan discuss co-ownership structures for real estate, focusing on joint tenancy vs. tenants in common, and land lease properties. Joint tenancy means equal shares with automatic transfer to surviving owners upon death, while tenants in common allows unequal shares that pass to heirs. Land lease properties let you own the building but lease the land, offering lower purchase prices but with ongoing ground rent and lease expiration concerns.
- Joint tenancy requires equal ownership and unanimous consent for major decisions, with automatic survivorship rights.
- Tenants in common allows flexible ownership percentages and independent sale of shares, but no automatic transfer on death.
- Land lease properties have lower purchase prices since you only own the structure, but require ongoing ground rent and the lease eventually expires.
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