A joint tenancy or a community property title for property owned by a married couple is a good way to pass on property to a surviving spouse without the need for probate. These arrangements negate the need for the property to be included in a will.
Generally the main differences are:
- A community property title with rights of survivorship is advantageous when the surviving member sells the property from a capital gains perspective.
- A joint tenancy can be set up with between individuals who are not married or in a civil relationship. A community property title with rights of survivorship requires marriage