Definitions for "JOINT TENANTS"
Related Terms:
Joint tenancy, Tenants in common, Tenancy in common, Joint tenancy with right of survivorship, Tenants-in-common, Joint ownership, Joint tenants with rights of survivorship, Tenancy-in-common, Right of survivorship, Co-tenancy, Tenant in common, Survivorship, Co-ownership, Joint property, Cotenancy, Tenancy in severalty, Tenancy by the entirety, Unity of possession, Tenancy by entirety, Joint tenants with right of survivorship, Jtwros, Tenancy by the entireties, Tenants by the entirety, Severalty ownership, Concurrent ownership, Sole ownership, Undivided interest, Severalty, Tenancy, Escheat, Life estate, Fee simple, Tenure in land, Fee simple ownership, Fee simple estate, Vest, Tenure, Right of ingress, Inheritance , Vesting, Present interest, Reversion, Tenant at sufferance, Remainder interest, Freehold, Owner, Estate of inheritance, Vested remainder, Life tenant
An agreement between joint borrowers where in the event of death, the surviving owner takes ownership of the others share.
equal holding of property between two or more persons. If one party dies the property passes to the other joint tennant.
When two people own a property equally, they are considered to be joint tenants.
Two or more persons who own property in common, with a right or survivorship, i.e. on the death of one owner, his or her interest automatically passes to the surviving owner(s). The interest cannot be disposed of by will or deed, unlike tenants in common (see below).
Equal share of ownership between two or more persons.
Two or more individuals receive title with each one receiving an equal ownership interest in the property. Upon the death of any joint tenant, his or her interest passes to the surviving joint tenant(s), with each surviving joint tenant receiving an equal share of the deceased joint tenant's interest.
An account in which several people have an ownership interest and whose assets are inherited by its survivors upon the death of any participant.
Two or more people holding property as co-owners. When one dies, his or her share of the property automatically passes to the survivor or survivors.
A form of holding title where the owners have 100% rights of survivorship unless redirected by a will.
Co-owners of a property, each having equal interest and rights to the property.
Two or more persons who own land together each of whose interest will pass by survivorship, on death, to the surviving co-owners (to be contrasted with tenants in common)
Where people jointly own a property. If one individual dies it automatically becomes the property of the other/s regardless of the terms of a will.
The holding of land by two or more persons where there is a right of survivorship i.e. 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.
People who own land jointly. The interests are not split between them - they are co-owners. If one owner dies, the other joint tenant/s automatically succeed to the interest that the deceased joint tenant held. This kind of ownership is most commonly used by married couples, who often prefer to own property as joint tenants. Where general land is owned by more than one person, it is deemed to be held by them jointly unless the title states otherwise.
Two or more persons owning property in a manner that upon the death of one joint tenant, their interest passes to the surviving joint tenant(s) rather than heirs of the deceased.
hold property equally between two or more people. If one party dies, their share passes to the survivor/s.
This is when there are two or more purchasers to the one property and each purchaser owns an equal share in the property. Upon the death of one owner, their share automatically is transferred to the remaining owners.
When two or more people share ownership, the surviving joint tenants automatically inherit the deceased person's share. p 44
Equal holding of property between 2 or more people. If a party dies, that share goes to the survivors
The holding of property by two or more persons where if one dies that share passes to the survivors. Land Tax: Based on the property value, it is a State Government tax payable by the owners of the property. Exemptions may apply in some States.
Persons who own property with the equal right to share the property during their lives; on one person's death, the property passes to and is then owned by the survivor or survivors.
Two or more persons who hold title to real estate jointly, with equal rights to share in its enjoyment during their respective lives with the provision that upon the death of a joint tenant, his share in property passes to the surviving tenants, and so on, until the full title is vested in the last survivor. A joint tenant cannot legally sell or encumber his interest without the consent or joinder of all of the other joint tenants.
A form of ownership frequently used by couples which ensures that when one dies, the property passes automatically to the other. The alternative is a Tenancy In Common. Key Facts Illustration (KFI) This document contains key mortgage information which is designed to help you compare the costs and features of different mortgages from one or more lenders. It is designed to make it easy to compare mortgages at a glance. Land Certificate A Land Registry certificate proving ownership of a property.
Persons who are co-owners of interests in the same land. At common law and in some states today, upon the death of a joint tenant, interest automatically passes to the surviving joint tenant(s). This survivorship feature, when it exists, is the principal distinction between a joint tenancy and a tenancy in common.
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. Compare, TENANTS IN COMMON, TENANTS BY THE ENTIRETY.
Two or more landowners who have been specifically named in one conveyance as joint tenants. Upon the death of a joint tenant, the surviving joint tenant or tenants receive the deceased tenant's interest by the right of survivorship, which is the important element of joint tenancy. Return to Top of Glossary
A form of joint property ownership with right of survivorship, i.e., in which the survivors automatically own the share of a deceased co-owner.
Co-owners in a property where the rights of an owner pass to the survivor(s) upon death, as opposed to other tenants.
Two or more people who own a property together. The joint tenants do not own distinct shares in the property; if one of them dies, the others will continue to own the entire property. Only the last tenant to die can pass the property on in their will (see Tenants in Common)
People who own land together in undivided shares. On the death of one owner his or her interest automatically passes to the surviving owner(s). The interest cannot be disposed of by will or deed as with tenants in common (q.v.).
See "joint tenancy".
A form of ownership of property. In this form, parties have an equal undivided interest with a right of survivorship. The right of survivorship simply means that when an owner becomes deceased, their ownership passes to the survivor, regardless of any terms in a Will. This form of ownership is frequently used when family members (husband and wife) acquire property.
Equal holding of a property between two or more persons. If one party dies, their share passes to the survivor/s.
where two or more people jointly own a property
Ownership by two or more persons who hold a divided interest with rights of survivorship.
When land is owned by more than one person, the legal and beneficial interests in it are separate. The co-owners will hold the legal interest in property on trust. Their beneficial interests can then be held either as Tenants in Common or Joint Tenants. They are Joint Tenants when each owns the whole of the beneficial interest. This means that if one of them dies the other person will have an automatic right to the property.
An account with two owners. (1) "WROS": With Rights of Survivorship. In the event of the death of one party, the survivor receives total ownership. (2) "TIC": Tenants in Common: In the event of the death of one party, the survivor receives one half of the account, the other half goes to the deceased's estate.
On the death of one of you the property will pass to the survivor of you in exactly the same way as if that person had purchased the property on their own (see also Tenants in Common).
The holding of property by two or more people in equal shares where, if one dies, his/her share goes to the survivor/s. Most couples buy property under joint tenancy.
Two or more people holding property as co-owners. When one dies, his share of the property automatically passes to the survivor(s). (See also Tenants in Common).
Where more than one person is the owner of the property. If one person dies, then the title reverts to the survivor(s), irrespective of the deceased's will. Refer also to "Tenants in Common".
Joint tenancy is the holding of property by two or more persons in equal shares.
The form of ownership where two or more people purchase a property in equal share. If one dies his/her share of the property passes to the surviving owner/s.
A way for two or more people to own an asset together. When one owner dies, the asset goes automatically to the other owner(s) without probate, regardless of what the will says.
Two or more persons owning property together with the right of survivorship.
Owners of a property hold it jointly in such a way that when one dies it automatically passes to the survivor. This is in contrast to property held by 'tenants in common'.
Joint tenancy is the equal holding of property by two or more persons.I one person dies, their share passes to the survivor/s.
Two or more persons to whom land is deeded in such manner that they have one and the same interest, accruing by one and the same conveyance, commencing at one and the same time, and held by one and the same undivided possession.