Jointly owned residential or commercial property is residential or commercial property owned by more than someone. It is generally not included in the estate of a decedent. Examples of collectively owned personal residential or commercial property are if you and another person are both listed on the title of an automobile or if you have a joint bank account. If the other person dies, you automatically have complete ownership of that residential or commercial property.

Sometimes joint ownership is more complex. If you owned genuine residential or commercial property with a decedent, or if you own any residential or commercial property with a decedent and someone else, ownership can be difficult to understand after a death.
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In Michigan, you can jointly own residential or commercial property in 4 ways:

- Tenants in common
- Joint tenants
- Joint occupants with complete rights of survivorship
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All 4 forms of joint residential or commercial property leave the enduring owner with various rights. When handling complex joint residential or commercial property situations, you might wish to talk with an attorney. Use the Guide to Legal Help to find a legal representative or legal services in your location.

Survivorship and the 120-Hour Rule

Survivorship (outliving your co-owner) affects more than simply the 4 kinds of collectively owned residential or commercial property. It can also impact inheritance rights of successors and devisees. In Michigan, an individual must live more than 120 hours after their co-owner craves the survivorship rights to take effect. Generally, anybody who passes away throughout the first 120 hours after a decedent's death is considered to have predeceased (passed away before) the decedent. When that occurs, they lose their interest in the decedent's residential or commercial property. As an outcome, this individual's beneficiaries and devisees will not receive a share in the decedent's residential or commercial property. The 120-hour rule is not followed if:

- A will, deed, title, or trust addresses synchronised deaths or deaths in a typical disaster