Real Estate Term
Joint Tenancy
A form of property ownership where two or more people hold equal shares with right of survivorship.
What is Joint Tenancy?
Joint tenancy is a form of co-ownership in which two or more people hold equal shares of a property together, with a right of survivorship. When one owner dies, their share automatically passes to the surviving owner(s) rather than through the estate, which is why spouses and family members often use it. All joint tenants share equal rights to the whole property.
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