Joint Tenants in Common - JTIC


DEFINITION of 'Joint Tenants in Common - JTIC'

A type of brokerage account which is owned by at least two people with no rights of survivorship afforded to any of the account holders.

BREAKING DOWN 'Joint Tenants in Common - JTIC'

In this type of brokerage account, a surviving tenant of the account does not necessarily acquire the rights (and account assets) of the deceased person. Rather, each tenant in the account can stipulate in a written will how his/her assets will be distributed upon his/her death. Generally, the member ownership in the account is determined on a pro rata basis, meaning that if there are two tenants in the account, each will have a 50% claim on the account's value.

  1. Pro-Rata

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    A legally enforceable declaration of how a person wishes his ...
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    A method in some states by which married couples can hold the ...
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    A net-net-net lease, also known as a triple net or NNN lease, is a type of real estate lease that requires the tenant to ... Read Full Answer >>
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  3. What are the differences between single, double and triple-net leases?

    A net lease is a real estate lease in which the tenant pays, on top of his rent, one or more of the following expenses: property ... Read Full Answer >>
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