What is the difference between “Tenants in Common” and “Joint Tenants” in property ownership?

As a Tenant in Common, you own your interest in the property outright: on your death, your interest in the property is yours to leave to a beneficiary. This is how you may own property with a business partner. As a Joint Tenant, there is a right of survivorship: on your death, your beneficial interest in the property immediately reverts to the surviving Joint Tenant(s). This is generally how we would register property in the case of a husband and wife.