The chief difference between Joint Tenants and Tenants in Common is the right of the survivor. Under Joint Tenants, if joint tenant dies, the property automatically belongs to the other owner, avoiding probate. If three people own the account and one dies, the two surviving owners each become the owners of an undivided one-half interest. But if the owners are Tenants in Common, the other owners have no rights to the deceased’s ownership (unless spelled out within the deceased’s will).