Type of account registration that designates ownership of the funds is shared equally by two or more individuals. No distributions can be made from the account to an individual without the permission of all. Upon the death of an owner, the shares pass to the remaining owner(s).

See Joint Tenants with Rights of Survivorship.

An acronym meaning Joint Tenants with Rights of Survivorship. Used to describe mutual fund accounts that are owned by more than one person whereby, upon the death of one account holder, ownership passes to the remaining account holder(s). JTWROS may appear on fund statements for these types of accounts.

Joint Tenants with Right of Survivorship. In this type of account a surviving account holder will inherit the other members share of the account assets upon death of that member. All account holders may transact direct transactions in this account.

Joint tenancy with right of survivorship. Shared ownership between two or more people, with the survivor(s) owning the property after the death of one or more fellow joint tenants. This delays probate, but ultimately does not avoid it. Moreover, it may result in income-and estate-tax pitfalls along with unintended liabilities. Compare with "Tenancy in common."

an abbreviation for "Joint Tenants with Right of Survivorship."

Joint Tenants with Right of Survivorship. Ownership of assets by two or more individuals where there is not specific fractional financial interest. In the event of the death of one party, the survivor(s) receives total ownership. See: Joint Tenancy; Probate