| Who can use it |
Spouses & registered domestic partners |
Spouses & registered domestic partners |
Any two or more people |
Any two or more people |
A trustee, for the beneficiaries |
Partners, in the partnership's name |
| Shares |
Equal halves |
Equal halves |
Must be equal |
Equal or unequal |
As the trust provides |
As the partnership agreement provides |
| Selling a share |
Both spouses must sign |
Both spouses must sign |
Allowed, but it ends the joint tenancy for that share |
Each owner can sell their own share |
Trustee acts as the trust allows |
Authorized partner, for partnership purposes |
| When an owner dies |
Their half passes by will, or to the spouse if no will |
Passes to the surviving spouse |
Passes to the surviving owners |
Their share passes by will or to heirs |
Successor trustee follows the trust |
Handled under the partnership agreement |
| Probate? |
Depends on who inherits |
No, for the surviving spouse |
No, for the surviving owners |
Possibly, unless in a trust |
Generally no, for trust property |
Depends on the agreement |
| Creditors |
Can generally reach the home for either spouse's debts |
Same as community property |
Can force a sale of a living owner's share |
Can force a sale of one owner's share |
Depends on the trust; revocable trusts offer little shield |
A partner's personal creditors are usually limited to a charging order |
| How it's created |
Presumed for property bought during marriage |
Must be stated on the deed and accepted |
Must be stated on the deed |
Default for co-owners who don't specify |
Deed names the trustee |
Deed names the partnership |