BoatWiki - Definitions
Joint Tenants is a type of boat ownership by two or more parties having an undivided interest and equal right to usage. In addition to creating equal rights of equity this also creates shared obligations and liabilities with respect to its operation. Although rights of survivorship may be implied in most situations, this may not always be the case. It is, therefore, best to consult with an attorney and accountant before making such choice.
Credits and References
2/28/2022 - Page initiated by Team BoatWiki.