Words and Phrases - "joint tenancy"

How would the 20-shareholder and 25% tests in s. 130.1(6)(d) be applied where a husband and wife hold a share as joint tenants (with rights of survivorship)? CRA responded:

A joint tenancy is a form of ownership of property in which the joint tenants have concurrent ownership and possession of the same property. The interest of each joint tenant is identical and the property cannot be sold or mortgaged without the consent of both joint tenants. … [I]n the event of the death of one of the joint tenants, the property will belong solely to the surviving joint tenant.

Whether two … joint tenants … of a share in a MIC should be counted as one shareholder or two individual shareholders for purposes of paragraph 130.1(6)(d) of the Act is a mixed question of fact and law … . [W]here two or more joint owners of a share of a corporation are considered one shareholder under relevant corporate law or are entitled to jointly receive any dividend paid on the share by the corporation, the joint owners of the share will generally be counted as one shareholder for purposes of paragraph 130.1(6)(d) of the Act.