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If one or more people have an Interest in land as joint tenants, then they are co-owners of that land. This form ofco ownership of land is characterised by the indivisibility of the estate: no individual joint tenant can identify his specific 'piece' of the estate. This means that the estate can only be transmitted in its entirety, and if one of the joint tenants dies his share is not inheritable by his successors ('RightOfSurvivorShip'). This is in contrast to the concept of TenancyInCommon, where each owner has a specific interest that is transmissible.
Under the Law Of Property Act (1925) the joint tenancy is the only legal form of co-ownership of land. This form of co-ownership is appropriate for, for example, married couples, but it is not very useful to businesses, who usually prefer a tenancy in common. To create a tenancy in common requires that the legal owners hold the property on Trust as a tenancy in common for the beneficiaries. In such cases it is quite common for the trustees and the beneficiaries to be the same people - this is simply the device that the law has created to give effect to a tenancy in common.