Definitions for "Joint tenancy"
Related Terms:
Tenancy in common, Joint tenancy with right of survivorship, Joint tenants, Tenants in common, Tenancy-in-common, Tenants-in-common, Joint ownership, Right of survivorship, Co-tenancy, Joint tenants with rights of survivorship, Survivorship, Tenant in common, Co-ownership, Joint property, Tenancy in severalty, Unity of possession, Cotenancy, Tenancy by entirety, Tenancy by the entirety, Tenancy by the entireties, Severalty ownership, Jtwros, Tenants by the entirety, Joint tenants with right of survivorship, Concurrent ownership, Sole ownership, Severalty, Tenancy, Undivided interest, Escheat, Life estate, Fee simple, Tenure in land, Fee simple ownership, Tenure, Fee simple estate, Vest, Right of ingress, Vesting, Present interest, Reversion, Seisin, Inheritance , Freehold, Remainder interest, Estate of inheritance, Tenant at sufferance, Freeholder, Owner, Seizin
See Beneficial joint tenants.
A concurrent ownership by two or more persons with the fight of survivorship. This form of ownership is recognized by all but a small handful of states. Upon the death of a joint tenant, the interest does not pass to the joint tenant's heirs or devisees, but to the other joint tenant(s). Effectively, when a joint tenant dies, his or her interest is automatically extinguished. As a result of this, no interest exists which may be passed on after death by will. Likewise, no dower or curtesy can attach. Further, all un-foreclosed liens of one of the joint tenants placed on the land are extinguished. The same result occurs to any easements or leases which were granted by one of the joint tenants without the conveyance by the other joint tenants. Because no interest passes after death, there is no need for probate; the surviving tenant(s) retain the property.
Joint ownership by two or more persons with right of survivorship. Four unities must be present: time, title, interest, and possession. Property held by two or more people with right of survivorship. Back to the Top
A form of joint ownership where all the joint owners have an identical interest in the property. On the death of one owner, their interest passes to the remaining owner(s) by survivorship.
a form of property ownership by two or more people with the right of ownership passing to the person or persons who survive. Normally, property owned in joint tenancy passes to survivors outside of a will.
A form of property ownership held by two or more people which gives each person an equal interest, including the right of survivorship.
Joint tenancy is one of the methods available for two or more people to hold title to real estate or personal property. It includes a right of survivorship, meaning that on the death of one joint tenant, his/her interests transfer to the remaining joint tenants.
Undivided ownership interests in property that are vested in two or more people, with the right of survivorship. When one dies, that person's interest passes to the surviving tenant or tenants rather than to the deceased tenant's heirs. An estate shared equally by two or more parties, with the survivor obtaining complete possession.
Joint ownership by two or more persons such as husband and wife, business partners, etc. Each person has equal rights to the property and ownership passes to the survivor in the event of death.
People who own property together in undivided shares rather than owning a defined share. If one joint tenant dies, the property automatically passes to the other joint tenants and is not affected by provisions in a will. Not the same as tenants in common• Death• Jointly Owned Property
A form of co-ownership where each party has equal ownership in the property, including the right of survivorship.
A joint holding of property by two or more persons with agreement that upon the death of one, the full title to the estate shall remain with the survivor.
A tenancy where two or more owners take identical types of ownership at the same time by the same instrument or deed.
Ownership of real estate between two or more parties who have been named in one conveyance as joint tenants. On the death of a joint tenant, the decedent's interest passes to the surviving joint tenant(s) by the right of survivor- ship.
Typically, spouses or life partners will hold Title to their condominium unit jointly. This means that each person owns an undivided half-interest in the unit. In the event of the death of one person, the other person automatically becomes the sole owner by the rights of survivorship.
a mutual ownership of property by at least two entities or individuals.In this type of tenancy, the lease term begins at the same time, the property is held in equal parts, interest is equal, and the amount of money paid is generally the same.If one part of the joint tenancy passes on, the surviving tenant gets full tenancy.
Concurrent ownership of property, such that each tenant, rather than having a distinct share in the property, is to be treated as far as outsiders are concerned as the single owner of the entire property. On the death of one joint tenant, his/her interest accrues for the benefit of the other joint tenant or tenants surviving.
When two or more people own property and the right to ownership of the property passes to the remaining owners upon the death of one of the joint tenants.
A type of ownership of property by two or more people with the right of survivorship.
Two or more owners share equal ownership and rights to the property. If a joint owner dies, his or her share of the property passes to the other owners, without probate. In joint tenancy, ownership of the property cannot be willed to someone who is not a joint owner.
this a form of land ownership where all the persons listed on the title own all the property equally in undivided shares. On the death of any of the property owners, that deceased person's interest automatically passes to the surviving joint owners.
A joint ownership where if one dies their ownership transfers to the other owner(s).
A form of joint ownership in which each co-owner has an undivided interest in the entire property. On the death of one owner, the survivor(s) automatically become(s) the owner of the whole property.
A manner in which real property may be titled. It means that two or more persons hold the same interest in the property and upon the death of one of the joint tenants, the interest of the deceased person passes to the survivor(s) and the entire parcel of land is then owned solely by the surviving joint tenant(s).
A manner in which to hold legal title to real property, giving each tenant equal interest and rights in the property, including the right of survivorship.
Each involved party owns the entire property. In the event of death, the survivor owns the entire property.
a joint interest in property by two or more persons
a kind of shared ownership of a thing
a present transfer of an actual interest in most property
a tenancy with two or more co-owners who take identical interests simultaneously by the same instrument and with the same right of possession
a type of joint ownership of property where ownership passes by survivorship
A joint tenancy estate is owned by two or more persons in equal shares. The main feature is right of survivorship -- when a joint tenant dies, title to the property immediately vests in the surviving joint tenant(s). Joint tenancy property is not subject to disposition by will.
Method of co-ownership that gives title to the property to the last survivor.
A collective interest in property, by two or more joint tenants. The interests in the property must equal, accrue under the same manner, and begin at the same time. Upon the death of a joint tenant the interest passes to the surviving joint tenants, not to the heirs of the deceased.
Two or more people own property as joint tenants, and one of the owners dies, the other owners will automatically become owners of the deceased owner's share.
A form of registration, properly abbreviated as "JT TEN" on stock certificates, that means that all parties named on the certificate have an undivided interest in the shares represented by the certificate. Thus, if one of the tenants should die the entire value of the certificate becomes the property of the surviving tenants. (Identical to Joint Tenancy With Right of Survivorship.)
Property owned with another person. Joint tenants are usually husband and wife and in the event of the death of one tenant, the other becomes the owner of the whole property. A joint tenant cannot make a gift of their share of the property to anyone else as it is not wholly theirs to give.
A method by which one person mutually holds legal title to property with other persons in such a way that when one of the joint owners dies, his or her share automatically passes on to the surviving joint owners by operation of law.
A form of ownership shared with an unlimited number of individuals. Each tenant owns an equal undivided share of the property.
A means of ownership in which two or more persons own equal shares in real property. Upon the death of one tenant, his/her share passes to the remaining tenant(s) until title is vested in the last survivor.
The form of ownership that provides survivorship; title passes automatically to surviving owner(s) on the death of a co-owner.
A form of joint ownership which insures right of survivorship in the event of the death of one of the owners. All owners have equal ownership and equal rights to the property.
Where equal ownership of a property is held by two or more persons. Differs from Tenancy in Common as the ownership held by a decedent transfers to the remaining survivors. No Terms Listed
A form or property ownership where the ownership is shared between two or more people as an undivided interest.
A method of taking title to real or personal property. When two or more people own property as joint tenants, each owns 100% of the property. When one of the owners dies, the deceased ownerâ€(tm)s share is extinguished, leaving the remaining 100% owners.
Two or more people holding equal title to property.
Property held in the names of two or more persons. The property passes to the surviving joint tenant on death of the other joint tenant or joint tenants.
Undivided ownership of a property interest by two or more persons each of whom has a right to an equal share in the interest and a right of survivorship, i.e., the right to share equally with other surviving joint tenants in the interest of a deceased joint tenant.
Two or more individuals who own an undivided equal interest in a piece of property. Four unities are required to create a joint tenancy: 1) Time–all joint tenants must obtain their interest at one time; 2) Title–all must obtain their interest by the same document; 3) Interest–each joint tenant has an equal share in ownership; 4) Possession–each joint tenant has an equal right of possession. If one of the joint tenants dies, his or her interest passes automatically to the surviving party or parties. No inheritance taxes or probate proceedings are required. No joint tenant can sell his or her ownership interest without terminating the joint tenancy.
Ownership shared with an unlimited number of individuals whereby each tenant owns an equal undivided share of the property.
Ownership of a property by two or more persons. The interest payments are equal and each party has equal rights regarding the property.
A form of holding title in which the property is owned by 2 or more persons who may have rights of survivorship.
A form of joint ownership of assets where the death of one of the joint owners results in the immediate transfer of ownership of the asset to the surviving joint owner or owners. This transfer is deemed to have taken place at the time of death.
Ownership by two or more persons with rights of survivorship; all joint tenants own equal interests and have equal rights in the property; each owner is possessed of an undivided part of the whole.
A type of property ownership by two or more persons in which if one owner dies, that owner's interest automatically passes to the other joint tenant.
If you and your spouse or another person own assets as joint tenants, when one of you dies, the property automatically passes to the surviving joint tenant. Too often used as a means of avoiding probate, although it is not necessarily the optimal tax strategy for most people.
ownership of land in common by more than one person where a right of survivorship exists. If one person dies the other joint tenant(s) automatically inherits the land.
Where two or more persons acquire an equal undivided interest on a property. When one person dies, that person's share automatically goes to the survivor or survivors.
When a piece of property is owned by two or more persons, and each person has an equal interest in the entire property.
Ownership of a piece of property by two or more parties with equal shares and rights, including the right of survivorship.
A type of ownership of property by two or more persons in which each owns an interest in the whole. At the death of any joint tenant, his or her interest automatically passes to the surviving joint tenant(s) by law.
Where two or more persons own property, either real or personal, according to a separate agreement. The property does not pass to heirs and cannot be disposed of by will. It passes only to a survivor (or survivors) of the tenancy.
A way to title (own) property where each person (tenant) owns an undivided whole. When one tenant dies, his or her interest passes to the survivor.
The ownership of land in common by several persons where there is a right or survivorship; i.e. where on the death of one joint owner the land as a whole vests in the survivors and can only be disposed of by will by the last surviving owner. Division of ownership can also be specified (e.g. 60%:40%).
Joint ownership of land where on the death of a joint tenant his title passes to the survivor(s). (Compare with tenant in common).
A state of concurrent ownership by 2 or more persons who are treated as a single unit no one person having a separate share
Generally, ownership of property by two or more persons so that when one dies, the survivor or survivors take the entire property (right of survivorship).
Ownership of land in common by more than one person where there is a right of survivorship - that is, on the death of one of the owners the share of the deceased goes to the surviving owners
Title to property owned by two or more persons with ownership transferring as a matter of law to the survivors; normally unaffected by a Will.
A common form of ownership where two or more parties own equal interest in a property with rights of survivorship, one's interest in the property reverts automatically to the remaining owners in the event of death. Mostly in the case of spouses, when one spouse dies, the property reverts totally to the widow or widower.
Property ownership between two or more people, all of whom live on the property. The property automatically passes onto the co-owner(s) if one of the others is deceased.
An undivided interest in property taken by two or more joint tenants. The interests must equal, accruing under the same conveyance and beginning at the same time. Upon death of a joint tenant, the interest passes to the surviving joint tenants rather than to the heirs of the deceased.
Ownership of property by two or more persons, each of whom has an undivided interest with the right of survivorship.
Joint ownership by two or more persons giving each tenant equal interest and equal rights in the property, including the right of survivorship.
If two people own property as joint tenants and one party dies ,the property passes in total to the surviving tenant – cannot be gifted under a will – supersedes provisions of a will.
Is a type of an account which has multiple owners.
Ownership of real estate between two or more parties named in one conveyance as joint tenants. Upon the death of a joint tenant, his or her interest passes to the surviving joint tenant or tenants by the right of survivorship. In Wisconsin, an HT-110 form is completed and recorded by the surviving joint tenant.
A form of co-ownership that provides that each joint tenant has undivided interest in the whole property. When one joint tenant dies, this interest passes to the surviving joint tenant or tenants. The last surviving joint tenant obtains title to the entire property.
Where two or more people have equal undivided interests in a property. When one joint tenant dies his or her share is automatically distributed among the survivors. (see Tenants In Common)
A form of co-ownership that gives each tenant an equal undivided ownership in the property, including the right of survivorship.
The "four unities" of time, title, interest and possession must exist in order to create a joint tenancy in Alabama. The destruction of any one of these unities will end the joint tenancy and the owners will hold the property as tenants in common. These unities may be implied by the wording of the deed; they do not actually have to be present. Alabama law requires that an instrument creating a joint tenancy clearly and unequivocally states the parties' intent to create a joint tenancy.
an equal right of ownership in a property that applies to two or more owners, and which calls for the rights of any deceased joint tenants to pass to the other tenants rather than heirs.
A common type of ownership allowing two or more parties to share equal rights to a property, and allowing the survivor to hold all these rights if one party dies (known as the “right of survivorship.”)
An equal undivided ownership of San Jose home by two or more persons. Upon death of any owner, the survivor receives the decedent's interest in the San Jose home.
The situation where two or more persons are equally owners of some property.
This is a method of owning any property, such as real estate and bank accounts, where each party has a right to the whole property. Upon death, the property is automatically transferred to the surviving joint tenant.
A property held in joint tenancy is owned by two or more people who have an undivided interest in the property, and the interest continues even after the other owners die.
Equal shares of a piece of property owned by two or more people. Rights to the property pass to the surviving owner or owners.
An estate where two or more persons hold real estate jointly for life, the survivors to take the interest of the one who dies.
An undivided interest in property taken by two or more joint tenants. The interests must be equal, accuring under the same conveyance and beginnng at the same time.
An equal undivided ownership of property by two or more persons, including the right of survivorship.
See: tenancy.
Ownership of real estate between two or more parties who have been named in one conveyance as joint tenants. If the instrument creating the joint tenancy specifically provides for survivorship, upon the death of a joint tenant, his or her interest passes to the surviving joint tenant or tenants by the right of survivorship.
Co-ownership between two or more people with rights of survivorship such that a survivor automatically becomes the owner of a decedent's interest, thereby avoiding probate.
Two or more persons own a property. Joint tenants with the common law right of survivorship means the survivor inherits the property without reference to the decedent's will. Creditors may sue to have the property divided to settle claims against one of the owners.
See Jointly Owned Property.
is a type of ownership where any two or more persons, related or not, may hold (own) property and the property passes to the survivor or survivors on the death of one. This passing is not automatic, as some think, and the procedure for passing will depend on local law. But, this form of ownership does have the advantage of allowing property to pass to the survivor without delays of probate and court administration costs. LIFE INSURANCE TRUST is usually set up for the purpose of excluding the proceeds of life insurance from the insured's and the spouse of the insured's estate for death tax purposes. It is an irrevocable trust. LIVING TRUST is a trust set up to operate during the life (and can operate after the death) of the one setting up the trust. It can be revocable, or, in other words, you can change your mind and have some or all of the trust property returned to you during your life. An irrevocable trust cannot be changed except in certain legal circumstances (fraud, unlawful agreements, merger of interests, decision of the Court). See Living Trust - Advantages/Disadvantages.
Ownership of property shared equally by two or more parties under which the survivor assumes complete ownership. This is different from a tenancy in common where the heirs of a deceased party to the tenancy inherit his or her share.
A form of ownership or taking title to property which means each party owns the whole property and that ownership is not separate. In the event of the death of one party, the survivor owns the property in its entirety.
ownership of property by two or more people where there is the right of survivorship; the surviving tenants receive the property at the death of a tenant
Joint ownership by two or more persons with right of survivorship. Upon the death of a joint tenant, their interest does not go to their heirs, but to the remaining joint tenants. Select Another Letter Select Another Letter
See Co-Ownership.
A form of property ownership whereby multiple parties own the entire property and that ownership is not separate. In the event of death of one of the owners, the survivor owner(s) gain ownership of the property in its entirety. (The deceased's interest in the property is not passed to his or her heirs.)
A form of property ownership by two or more persons, often designated as "joint tenants with right of survivorship." Joint tenants always own equal parts of joint tenancy property. When a joint tenant dies, his or her interest in the property automatically goes to the surviving joint tenant.
Joint ownership by two or more people with the right of survivorship. All tenants have equal rights and own an equal interest.
The undivided equal owner interests with right of survivorship in a property held by two or more parties.
An estate or unit of interest in real estate that is owned by two or more natural persons with rights of survivorship. Only on title exists, and it is vested in a unit made up of two or more persons, all owning equal shares. The basic idea of a joint tenancy is unity of ownership; title is held as though all owners collectively constituted one person, a fictitious entity. The death of one joint tenant does not destroy the owning unit--it only reduces by one the number of persons who jointly own the unit. The remaining joint tenants receive the deceased tenant's interest by the right of survivorship. Thus, the decedent's interest cannot be transferred by will or descent. As each successive joint tenant dies, the remaining tenants acquire the interest of the deceased. The last survivor takes title in severalty, fully inheritable at his or her death by heirs and devisees. ( See four unities )
A way to take title to jointly owned real or personal property. If a joint tenant dies, the other owner(s) automatically become entitled to the deceased owner's share. Thus, if spouses own a house as joint tenants, and one spouse dies, the surviving spouse automatically becomes full owner. Because of this "right of survivorship," a joint tenancy interest in property doesn't go through probate. Instead it goes directly to the surviving joint tenant(s) once some tax and transfer forms are completed.
A way in which two or more people may hold title to property together. Owning as joint tenants means each owner has an equal right to the entire property, that none of the owners may sell, bequeath or encumber their portion of the property without the consent of the other owners and that, in the event of the death of one of the owners, the surviving owners automatically retain title to the entire property by "Right of Survivorship". Compare with "tenants in common".
A form of co-ownership giving each tenant equal interest and equal interest, and equal rights in the property' including the right of survivorship.
Concurrent ownership of real estate by two or more persons with rights of survivorship. Each owner owns 100% of the property. Also known as “Tenancy by the Entireties†most often used when husband and wife own property together, but may be used for unmarried persons as well.
A form of legal co-ownership of property (also known as survivorship). At the death of one co-owner, the surviving co-owner becomes sole owner of the property. Tenancy by the entirety is a special form of joint tenancy between a husband and wife.
A form of joint ownership in which each joint owner has an equal share.
A form of co-ownership that gives each tenant equal shares and rights in the property including the right of survivorship, eg: ownership of a property passes to the surviving owners.
A form of ownership in which two or more individuals have an equal share in the ownership of a property. In the event of one owner's death, his or her share is automatically transferred to the surviving owner, apart from the deceased's will.
An estate or unit of interest in real estate that is owned by two or more natural persons with rights of survivorship. (2) Property owned by two or more persons at the same time. The law views the owners not as separate and independent but as one single owner.
Co-ownership of property by two or more people in which the survivor(s) automatically assumes ownership of a decedent's interest.
When 2 or more people own something and have rights of survivorship. This means that if 1 tenant dies, his or her share goes to the other tenants.
The form of ownership in which the Registered Owners of equal interests in the property declare that there shall be an automatic right of survivorship. If one dies, the other automatically becomes the owner of the entire property. The property does not form part of the deceased's estate and is deemed to pass to the surviving owner the moment before death.
A form of ownership by which two or more joint tenants each hold an "undivided interest" in the property, each entitled to full use and disposition of the property and share in any income it may produce.
When two people (typically spouses) both own an undivided interest in a property. If one joint tenant passes away, the other receives the title to the entire property.
Form of legal co-ownership of property which gives the survivors, when one of the owners dies, the rights to the decedent's shares of the property. Tenancy by the entirety is a special form of joint tenancy between husband and wife. Compare tenancy in common.
The term meaning the joint ownership of land or property where both parties have an equal share – if one dies the entire property passes to the survivor regardless of the terms of any Will.
A form of equal, undivided ownership in property that, upon death of one owner, automatically passes to the surviving owner(s). Also called joint interest. Lapse (1) The result when a beneficiary named in a will or trust fails to survive the testator or Grantor. (2) A Power of Appointment is said to lapse if the holder does not exercise it within the permitted period. Living Trust A trust created by agreement during life, as opposed to a testamentary trust created by a Will. Such a trust can be used to hold assets during a person's lifetime and thereby shelter those assets from probate at the person's death. Also called an inter vivos trust. Back to List of Terms Living Will A document which directs that artificial life support should not be used if a person is suffering from a terminal illness which has resulted in death being imminent or the person is in a persistent vegetative state. Pecuniary Bequest A specific bequest of a specified dollar amount. (See also Specific Bequest.)
A situation where two or more parties own a piece of property together. Each of the owners has an equal share, and may not dispose of or alter that share without the consent of the other owners.
A way for two or more people to share ownership of real estate or other property. When two or more people own property as joint tenants and one owner dies, the other owners automatically own the deceased owner's share. For example, if a parent and child own a house as joint tenants and the parent dies, the child automatically becomes full owner. Because of this right of survivorship, no will is required to transfer the property; it goes directly to the surviving joint tenants without the delay and costs of probate.
A form of joint asset ownership by two or more persons in which each person has an equal undivided ownership interest that passes directly to the surviving joint tenant(s) upon the death of any joint tenant. Real estate held in joint tenancy does not pass through probate following the death of a person with an ownership interest. Personal property such as fixtures and equipment, inventories, or vehicles held in joint tenancy does not pass through probate if the right of survivorship is stated in the title to the property. Any joint tenant can petition the court and compel partition of a joint tenancy asset.
A form of co-ownership that gives each tenatn equal interst and equal rights in the property, including the right of survivorship.
Joint tenancy is a form of co-ownership that gives each tenant equal interest and rights in the property, including the right of survivorship. At the death of one joint tenant, ownership automatically transfers to the surviving joint tenant. This form of ownership is most appropriate for unmarried people in a long-term relationship. Some of the limitations of joint tenancy are (first) that each person must own an equal share of the house and (second) the right of survivorship is terminated if one person transfers his deed from joint tenancy to tenancy-in-common.
A form of property ownership by two or more persons designated as "joint tenants with right of survivorship." When a joint tenant dies, his or her interest in the property automatically goes to the surviving joint tenant outside of and beyond the power of the deceased joint tenant's will; the property passes outside probate. But holding property in joint tenancy has dangers, including certain tax disadvantages. Consult your attorney before taking title to property in joint tenancy.
Ownership by two or more persons in a property where each has the right of survivorship.
A type of ownership by two or more parties who share equal rights in and control of property, with the survivor or survivors continuing to hold all such rights on the death of one or more of the tenants.
A joint tenancy is one form of co-ownership in land. A joint tenant owns an undivided interest in the estate in land along with other joint tenant(s); and has a right of survivorship to the share(s) of the other joint tenant(s). A joint tenancy between A and B can only exist if there are the "four unities": A and B's interests (1) must be of the same kind — for example cannot be a life estate for A and a fee simple for B; (2) must have vested at the same time; (3) must have been created by the same instrument; and (4) must be an "undivided interest" to each of A and B.
A form of property ownership by two or more persons designated as "joint tenants." When a joint tenant dies, his or her interest in the property automatically passes to the surviving joint tenant and is not controlled by the Will of the deceased joint tenant and is not subject to probate.
Co-ownership that allows each party an equal interest and equal rights in a property.
A form of joint ownership of property that carries an automatic right of survivorship, such that title to the property automatically vests in the surviving joint tenant(s) by operation of law upon the death of one joint tenant. (Contrast with "Tenants-in-Common".)
Title held by two or more persons in equal shares with right of survivorship.
An equal undivided ownership of property by two or more persons. Upon death of any owner, the survivor receives the descendant?s interest in the property.
Ownership of Real Property by two or more people. When one dies, his share automatically passes to the survivors.
A form of property ownership by two or more persons designated as "joint tenants with right of survivorship." When a joint tenant dies, his or her interest in the property automatically goes to the surviving joint tenant(s) outside of probate by operation of law.
When two or more people hold equal undivided interest in title to a property.
The holding of property by two or more persons in such a manner that, upon the death of one joint owner, the survivor or survivors take the entire property, to be distinguished from tenancy in common and tenancy by the entirety.
A tenancy shared equally by two or more parties with the right of survivorship.
A form of ownership by which the tenants own a property equally. If one dies, the other would automatically inherit the entire property.
Property whose ownership is between two or more people with equal interest and equal rights in the property including the right of survivorship. If one owner dies, ownership rights are passed to the surviving owner.
Ownership by two or more people that gives equal shares of a piece of property. Rights pass to the surviving owner or owners.
A form of co-ownership designated in the property title. Under this form of ownership, each tenant has an equal interest and equal rights in the property, including the right of survivorship.
Property held by two or more persons with an undivided interest. If one owner dies, the property passes automatically to the other(s).
Land and property owned by one or more personal is usually owned as joint tenants. On the death of a joint tenant, their share should automatically pass to the other tenant irrespective of the wishes within their Will. This situation can be avoided if owned jointly as tenants in common.
Property held by two or more persons with rights of survivorship.
When two or more persons are equally owners of some property. The unique aspect of joint tenancy is that as the joint tenancy owners die, their shares accrue to the surviving owner(s) so that, eventually, the entire share is held by one person. A valid joint tenancy is said to require the "four unities": unity of interest (each joint tenant must have an equal interest including equality of duration and extent), unity of title (the interests must arise from the same document), unity of possession (each joint tenant must have an equal right to occupy the entire property) and unity of time: the interests of the joint tenants must arise at the same time.
A form of co-ownership giving each tenant equal interest and equal rights in the property, including the right of survivorship. No Terms Listed
a form of ownership of property by two or more persons who are Joint Tenants with Right of Survivorship as to that parcel of property.
A form of property ownership by which two or more people may take ownership, where-in the death of one owner causes the transfer of that individual's share to go directly to the remaining owner(s).
Two or more persons holding title to real property who are named on the same deed, hold an equal interest which was obtained at the same time, and share an undivided possession of the property. Joint tenants benefit by the "right of survivorship".
Joint ownership by two or more persons with right of survivorship. Upon the death of a joint tenant, his/her interest does not go to his/her heirs, but to the remaining joint tenants.
A legal term for the form of ownership by two or more people who share equal rights in a property, and the survivor continues to hold all rights on the death of one or more of the tenants. Joint tenancy is a common form of ownership when two or more persons buy a timeshare.
An equal undivided ownership of a property by two or more persons. Upon the death of any owner, the survivors take the decedent's interest in the property.
An equal shared interest in a property with right of survivorship.
form of multiple party ownership where each party has an equal interest in the property. Not inheritable as the surviving member takes sole ownership upon the death of the other tenants (Right Of Survivorship).
Ownership of a property by 2 or more people, each of whom has an undivided interest with the right of survivorship. Example : John and Mary own a house in joint tenancy. Each owns half of the entire (undivided) property. If John dies, Mary will own the entire property and vice versa.
A form of joint ownership of property where each party is considered co-owner. On the death of one of the owners, the surviving partner becomes full owner of the whole.
A form of ownership of property giving each person equal interest in the property, including rights of survivorship.
Two or more people owning property jointly in a form that allows the property to automatically become titled in the names of the remaining owners upon the death of any owner.
Ownership of an asset in equal shares where the survivor is automatically entitled to the whole asset on the death of the other joint owner.
Where two or more people own a piece of land in common. On the death of one party the land passes to the other owners.
Joint tenancy is a form of co-ownership. Although usually thought of as a way for a husband and wife to own property, there is no requirement that joint tenants be married to one another or that there be only two joint tenants. Each individual owner in joint tenancy has a right to sell, encumber, and possess the entire property. Regardless of the number of joint tenants, when one joint tenant dies, the remaining joint tenants automatically take the deceased joint tenant's share of the property by right of survivorship. In such cases, the surviving joint tenants are required to file a death certificate and an affidavit with the county recorder without having to pay transfer taxes. A principal advantage of joint tenancy is that it allows the surviving joint tenant to avoid probate and death taxes.
Property in the names of two or more persons, where all persons have an equal interest in the whole property. When one person dies his interest passes to the survivor(s). They are known as Joint Tenants or Joint Proprietors of that property.
joint ownership with the right of survivorship so that ownership is transferred automatically from owner to owner on the death of one owner (pages 66-71).
A form of legal co-ownership of property. When one co-owner dies, the other co-owner becomes the sole owner of the property. Tenancy by the entirety is a special form of joint tenancy between a husband and wife.
Joint ownership by two or more persons with right of survivorship; all joint tenants own equal interest and have equal rights in the property.
The ownership of property by two or more persons with the survivor taking the share of the deceased.
Two or more persons are equal owners of some property. Upon the death of a joint-tenant, his or her share accrues to the surviving joint-tenant(s), and does not go to the estate of the deceased tenant. Eventually, one person holds the entire share.
An equal undivided ownership of property by two or more persons, whose survivors take the interest upon the death of any one of them.
A form of co-ownership by two or more persons in equal shares characterized by the incident of survivorship.
A form of joint ownership of property giving each person equal interest in the property. When one joint tenant dies the other has title to the entire property.
Ownership by two people (usually spouses) in which each person owns an undivided interest in the entire property. When one joint tenant dies, the other has title to the entire property.
A form of property ownership by two or more persons in which the joint tenants have one and the same interest, arising by one and the same conveyance, commencing atone and the same time and held by one and the same possession(the concept of "four unities").
Equal ownership, by two or more people, each of whom has an undivided interest, with the right of survivorship.
A form of joint ownership. Each tenant has an undivided interest in the entire property. On death of one of the owners, the survivor becomes the owner of the whole. A joint tenancy may involve more than two persons.
Co-ownership of real property by two or more persons who share equally the right to use, possess and enjoy all the property, and the right of survivorship. Joint tenants with right of survivorship (or JTWROS) is a form of property ownership in common law legal systems where more than one person has ownership of property. Joint tenants own, jointly, the whole of the real property without any distinction between them regarding share of ownership. On the death of one of the tenants, the whole of the property passes to remaining tenant(s); this is the "right of survivorship." The deceased tenant's property interest simply evaporates by operation of law, and cannot be inherited by his heirs (which means it never goes through probate). Under this type of ownership, the last person living takes all.
A type of property ownership of two or more people where each tenant has an equal interest and equal rights to the property. If one party dies, ownership is passed to the remaining owner, which is referred to as the right of survivorship.
Created when two or more persons take joint ownership as joint tenants and includes the right of survivorship. There are four unities (equalities) required of joint tenancy; Time, Title, Interest and Possession (also known as the acronym TTIP).
An account or ownership of property where there are two or more owners. There are several types of joint tenancy. State laws and the relationship between the owners will determine the type of joint account one will want to establish. See: Joint Account; Joint Tenants By Entirety; Joint Tenants In Common; Joint Tenants With Rights of Survivorship
Co-ownership of real property by two or more persons, whereby the joint tenancy have equal interest, accruing by the same conveyance, commencing at the same time, and held by equal and undivided possession. Joint tenancy includes the right of survivorship, by which interest of a deceased tenant passes to survivors.
Ownership of property by two or more parties. Each party owns an individual interest with the right of survivorship. In the event of death of one of the owners, the surviving owner(s) inherits the property.
Ownership of land by two or more persons whereby, on the death of one, the survivor or survivors take the whole estate.
a form of concurrent ownership that includes a right of survivorship on the death of one partner ‡—L•s“®ŽYŒ i2lˆÈã‚ÌŽÒ‚ª“¯ˆê‚Ì•s“®ŽY‚ɑ΂µ‚Ä“¯ˆê‚ÌŒ —˜‚ð—L‚·‚é‚Æ‚«‚ɶ‚¸‚é•s“®ŽYŒ A¶‚«Žc‚Á‚1/2•û‚É‚·‚ׂĂ̌ —˜‚ªˆÚ‚éj
Property owned by 2 or more people and in common behalf they follow the law that if one owner dies the joint owner receives the property (survivorship).
Also called joint tenancy with right of survivorship. A form of property ownership in which two or more people own an undivided interest in a property. Upon the death of one joint owner, ownership automatically passes to the surviving joint owner(s) without a court proceeding. Joint tenancy applies to property with a title or other certificate of ownership, such as mortgages, securities, and bank and brokerage accounts.
Joint tenancy is where two or more persons own land in common (it is impossible to point to one part of the property and say that belongs to one person rather than the other or others). An important feature is that on the death of one joint owner, the land passes to the survivors. This is called the right of survivorship
Keywords:
work
Joint Work