Related Definitions
What is a Joint Tenancy?
A form of property ownership in which two or more people share equal rights, and upon death, the property passes automatically to the surviving owner(s).
A form of property ownership in which two or more individuals hold equal shares in a property with the right of survivorship. Upon the death of one joint tenant, their share automatically passes to the surviving joint tenant(s) without going through probate. Joint tenancy is commonly used in estate planning to facilitate the transfer of assets and avoid probate complications.
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