Definitions for "Joint tenancy with right of survivorship"
A type of ownership of property where each owner has an undivided ownership. When one of the joint tenants dies, his or her interest passes to the surviving joint tenants. Before you decide to transfer property or to change the form of ownership of property you already own, consult with your attorney as to what form of ownership is best for you. See also tenants in common.
Ownership of property by two or more people in which the survivors automatically gain ownership of a decedent's interest. see also tenancy.
A type of ownership by two or more parties, with the survivors continuing to hold all property on the death of one or more of the tenants. Each joint tenant can unilaterally sever the tenancy.