Joint tenancy, also known as joint ownership, is a legal arrangement wherein two or more people have equal ownership and rights over a property or asset. Some synonyms for joint tenancy include co-ownership, simultaneous ownership, and shared ownership. Other terms that can be used in place of joint tenancy include tenancy by the entirety, tenancy in common, and community property. These legal terms all refer to the different forms of shared ownership arrangements that exist. It is important to understand the nuances of each type of ownership so that property rights and responsibilities are properly established and agreed upon.