In Maryland, a joint tenancy is a type of property ownership arrangement where two or more people own the property together, and each owner has an equal share in the property. Joint tenancy can be used for various types of property, including real estate, bank accounts, and investments.

In joint tenancy, each owner has an equal right to use and enjoy the property, and all owners must agree to any decisions about the property, such as selling or refinancing it. If one owner dies, their share of the property automatically passes to the surviving owner or owners without the need for probate. This is known as the right of survivorship.

To create a joint tenancy in Maryland, the owners must include specific language in the deed or title that indicates their intention to create a joint tenancy with right of survivorship. The deed or title must also be recorded with the local land records office.

It’s important to note that in Maryland, joint tenancy may not be the best option for everyone. There are potential risks associated with joint tenancy, such as the risk of creditors going after the property and the possibility of unintended consequences if one owner dies. It’s always a good idea to consult with a qualified attorney to determine the best way to own property in your specific situation.

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