Jointly owned residential or commercial property is residential or commercial property owned by more than someone. It is normally not included in the estate of a decedent. Examples of collectively owned individual residential or commercial property are if you and another person are both listed on the title of a vehicle or if you have a joint savings account. If the other individual dies, you automatically have complete ownership of that residential or commercial property.
housingworks.org
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 another person, ownership can be hard to understand after a death.
wikipedia.org
In Michigan, you can jointly own residential or commercial property in 4 methods:

- Tenants in typical
- Joint renters
- Joint renters with complete rights of survivorship
- Tenants by the totalities
All 4 types of joint residential or commercial property leave the surviving owner with different rights. When dealing with complex joint residential or commercial property scenarios, you might want to talk with an attorney. Use the Guide to Legal Help to find a lawyer or legal services in your location.

Survivorship and the 120-Hour Rule

Survivorship (outliving your co-owner) affects more than just the 4 kinds of collectively owned or commercial property. It can likewise affect inheritance rights of heirs and devisees. In Michigan, an individual needs to live more than 120 hours after their co-owner craves the survivorship rights to take effect. Generally, anybody who dies during the first 120 hours after a decedent's death is considered to have predeceased (died before) the decedent. When that happens, they lose their interest in the decedent's residential or commercial property. As an outcome, this person'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 catastrophe