A joint tenancy is that situation where two or more tenants come together to own a property. In this, there are rights of ownership where when one partner in the joint tenancy dies, and then the property is survived by the other partners. The other partners will own the property now, as the rights of ownership passes between the tenants. The joint tenancy is what has been signed between Simon and Hamish. The rights of Simon and Hamish under the joint tenancy are to own the property together. If Simon or Hamish dies, then the property will be rightfully owned in its entirety by the other. The rights for tenants in common are different than joint tenancy. In tenancy in common, the individuals have a share in the property. The individual will not own the complete property absolutely, but will own that share or any other agreed upon division absolutely. They have an interest in the property and this interest and right will not get transferred to the surviving tenants when one of them died. The tenants have the right to will their share of the property to any other. The will of the deceased would be used to transfer the right to the share of the property. Normally investors who buy investment property will end up buying it in common. The rights to property that Hamish and Simon would have had under tenants in common are hence much different. Hamish and Simon could will the property to their family or others, and upon their death their share of the property could be transferred.