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Joint Tenancy

Joint tenancy means that two or more people hold title to a piece of property.  Each person, whether it is two or six, owns an equal share of the property and can only dispose of (sell) his share.   The main thing to keep in mind about joint tenancy is that it comes with a right of survivorship which means that if one tenant dies, the other tenant(s) automatically receive the deceased person's share.  If there are several tenants, the share is divided evenly between them.

Also keep in mind that even if a will exists that designates someone as a beneficiary of one of the tenants and that tenant dies, the will will be ignored by the courts.  So if you have a joint tenancy with someone, make sure you want him or them to inherit your share of the property when you die.  

To have a joint tenancy contract drawn up, you will need to contact a lawyer.