Sole Ownership: One person owns 100%. When that person dies, the property usually goes through probate unless a Lady Bird Deed or trust is used.
Tenants with Right of Survivorship: Two or more people own equal shares. When one owner dies, their share automatically goes to the surviving owner(s), which helps avoid probate for that share.
Tenants in Common: Two or more people can own unequal shares. When one owner dies, their share goes to their heirs through probate unless other planning is in place.
Tenants by the Entireties: Available only to married couples. When one spouse dies, the other automatically owns 100%, avoiding probate for that transfer.