NEW YORK, NY – September 21, 2026 – Co-owning real estate in New York involves important legal decisions that can affect inheritance, creditor exposure, and the ability to control one’s own share of a property. Manhattan real estate attorney Peter Zinkovetsky of Avenue Law Firm (https://www.avenuelawfirm.com/blog/joint-tenancy-vs-tenancy-in-common/) has published guidance explaining the differences between joint tenancy and tenancy in common, how each form operates when an owner dies, and the risks of selecting the wrong ownership structure.

According to Manhattan real estate attorney Peter Zinkovetsky, the distinction between these two forms of co-ownership often surprises buyers and co-owners. In a joint tenancy, when one owner dies, the surviving owners automatically acquire that share, while in a tenancy in common, a deceased owner’s share passes to whoever is named in the will or to heirs under intestacy law. “Many people don’t realize that the way a deed is worded can override an entire estate plan,” Zinkovetsky explains. “Choosing the right ownership structure at the outset can help reduce the risk of future disputes and unintended inheritance outcomes.”

Manhattan real estate attorney Peter Zinkovetsky notes that New York law sets clear default rules. Under New York Estates, Powers and Trusts Law § 6-2.2, a transfer to two or more people creates a tenancy in common unless the deed expressly declares a joint tenancy. A deed to married spouses, however, creates a tenancy by the entirety unless the deed states otherwise. For non-spouse co-owners, tenancy in common is the default, and joint tenancy must be spelled out with clear right-of-survivorship language.

Zinkovetsky points out that New York courts recognize a joint tenancy only when the four “unities” of time, title, interest, and possession exist simultaneously. Each owner holds an equal, undivided interest in the whole property, and the survivors automatically take a deceased owner’s share without probate. If one joint tenant transfers or otherwise validly severs that interest, the severed interest becomes a tenancy in common, and the instrument must be recorded before the severing tenant’s death to terminate survivorship as to that share.

Tenancy in common, by contrast, allows owners to hold unequal shares. One owner might hold 70% and another 30%, yet both retain the right to occupy and use the entire property. “Ownership percentage matters for money, not access,” Zinkovetsky observes. “It determines how sale proceeds are split and how much value passes through each owner’s estate, but it does not limit anyone’s right to use the property.” He recommends stating each owner’s fractional interest clearly in the deed and in a separate written co-ownership agreement to help prevent later disputes over contributions.

The firm’s guidance also outlines the legal risks of choosing the wrong structure. Because survivorship overrides a will, a joint tenant who intends to leave a share to a child may instead see that share pass automatically to the surviving co-owner. Under New York Real Property Actions and Proceedings Law § 901, a qualifying co-owner may seek partition, and if physical division would substantially prejudice the owners, a court may order a sale. Creditor claims may also attach to a single owner’s interest, and enforcement can affect the overall co-ownership structure.

Attorney Zinkovetsky adds that owners can convert a tenancy in common to a joint tenancy when all current owners consent. This is typically accomplished by executing and delivering a new deed conveying the property to the owners as joint tenants, using clear right-of-survivorship language. For Manhattan property, the deed is recorded through the New York City Register with the required forms and fees, which provides public notice and protects against later competing claims.

When a co-owner dies, the outcome depends entirely on how title was held. With a joint tenancy, the survivor records a certified death certificate to update the public record and confirm ownership. With a tenancy in common, the deceased owner’s share ordinarily becomes part of the estate and may require a probate or administration proceeding, potentially leaving the surviving co-owner sharing the property with beneficiaries or heirs.

For individuals purchasing property with a family member, spouse, or investment partner, or those reviewing an existing deed, consulting a Manhattan real estate attorney may help clarify which ownership form best fits their goals before a deed is signed or updated. Correcting an improperly prepared or recorded deed after the fact can require additional legal work and expense.

About Avenue Law Firm:

Avenue Law Firm is a Manhattan-based real estate practice led by attorney Peter Zinkovetsky, serving buyers, sellers, and co-owners throughout Manhattan, Brooklyn, and the surrounding counties. The firm handles deed, title, and co-ownership matters, including corrective deeds, tenancy in common agreements, and conversions recorded through the New York City Register. The office is located at 505 Park Avenue, Suite 1201, in Manhattan. For consultations, call (212) 729-4090.

 

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Email: peter@avenuelawfirm.com

Website: https://www.avenuelawfirm.com/

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Company Name: Avenue Law Firm
Contact Person: Peter Zinkovetsky
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Phone: (212) 729-4090
Address:505 Park Ave #1201, New York, NY 10022
City: New York
State: New York
Country: United States
Website: https://www.avenuelawfirm.com/

 

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