Property may be owned under Joint Tenancy or Tenancy in Common. Joint Tenancy is ownership in equal undivided shares, stated to have the technical requisites of unity of possession, interest, title and time. The most important feature of Joint Tenancy is known as survivorship: on the death of one Joint Tenant, their share passes to the survivors so that they remain Joint Tenants of the whole. Joint Tenants are regarded collectively as a single person in respect of their dealings with others.
A JV takes place when two or more parties come together to undertake a project. In a JV the parties may have differing amounts of equity, time, and skill invested in the project.