National Credit Union Administration. The National Credit Union Administration (NCUA) is the independent federal agency created by the United States Congress to regulate, charter, and supervise federal credit unions.
This joint tenancy severance is necessary to change your tenancy from a joint tenancy to a tenancy in common. This notice will record the current ownership of the property as well as the change in ownership. Ask a lawyer to discuss your specific legal situation.
Misconceptions. Tenancy in common should not be confused with joint tenancy, Findlaw states. In most ways, the two forms of co-ownership are identical, but joint tenants have a right of survivorship: If one joint tenant dies, his share is divided up equally among the other owners instead of going to his heirs.