Hobie and Colleen designed and developed a smartphone app called Do It. Do It is a game in which players cooperate rather than compete to complete a task, such as draw a picture, play a tune, or score a point. Documents evidence each party’s investment, ownership, and share of profits and losses in the app. In the documents, Hobie and Colleen are referred to as “joint owners” and “tenants.”

Is the ownership interest of each party a tenancy in common or a joint tenancy? The ownership interest of each party is a ______________ ______________ ______________.

With this type of co-ownership, each of two or more persons owns an undivided, fractional interest in the property, and on one tenant’s death that interest passes to their heirs.

In contrast, with a ______________ ______________, each of two or more persons owns an undivided interest, and a deceased owner’s interest passes to the surviving co-owner or co-owners. In most states, it is presumed that a tenancy is a ______________ unless it is clear that the parties intended to establish a ______________ ______________. Under that rule, Hobie and Colleen did not state or otherwise make clear that they intended to share the ownership of their business in a ______________ ______________.