When two (or more) persons purchase property together and provide the money in equal shares, they are presumed to be joint tenants. If their contributions are unequal, they are presumed to take beneficially, as tenants in common, shares proportionate to the sums paid. For example, if H contributes one-third and W two-thirds of the purchase price, they are presumed to be equitable tenants in common as to one-third and two-thirds, respectively.

This presumption may be rebutted by evidence that the parties intended to hold as joint tenants despite their unequal contributions, or that they intended to take as tenants in common despite equal contributions.