Estate of Wayne-Chi Young, Deceased, Tsai-Hsiu Hsu Yang, Executrix - Page 25

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               On the other hand, joint tenancy is a distinct property                
          interest from tenancy in common and community property.9  The               
          right of survivorship is the chief characteristic that                      
          distinguishes a joint tenancy from other interests in property.             
          United States v. Jacobs, 306 U.S. 363, 370 (1939); Zeigler v.               
          Bonnell, 126 P.2d 118, 120 (Cal. Dist. Ct. App. 1942).  While a             
          joint tenancy may be severed by mutual agreement or by a                    
          conveyance by one of the joint tenants during the lives of the              
          joint tenants, the decedent cannot devise property held by the              
          decedent and another in joint tenancy.  Estate of Sullivan v.               
          Commissioner, 175 F.2d 657 (9th Cir. 1949), revg. 10 T.C. 961               
          (1948).  Joint tenancy has been characterized as a specialized              
          form of a life estate, with what amounts to a contingent                    
          remainder in the fee, the contingency being dependent upon which            
          joint tenant survives.  Id.  The surviving joint tenant does not            
          secure that right from the deceased joint tenant, but from the              
          devise or conveyance by which the joint tenancy was first                   
          created.  At the time of decedent's death, decedent's interest in           
          the property is extinguished, with the joint tenancy                        
          automatically passing to the surviving joint tenant by the                  
          operation of law, avoiding the need for probate.                            


               9  For example, tenants in common own an undivided fraction            
          of the whole property held as tenancy in common.  On the other              
          hand, joint tenants own the whole property subject to the rights            
          of the others.                                                              




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