Right of Survivorship

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August 31, 2024 4 min read Definitions

Joint Tenancy: A Form of Co-Ownership with Right of Survivorship

Real Estate Law Finance Co-Ownership Right of Survivorship Real Property Estate Planning Legal Terms

Joint Tenancy (JT) is a legal arrangement where parties hold equal shares in a property and enjoy the right of survivorship. This means if one joint tenant dies, their interest automatically passes to the surviving joint tenants.

August 25, 2024 4 min read Definitions

Tenancy in Common: Ownership of Realty by Two or More Persons

Real Estate Legal Concepts Ownership Realty Undivided Interest Right of Survivorship Property Law

Tenancy in Common refers to a form of property ownership where two or more individuals hold undivided interests in a property without the right of survivorship. Each owner's share is bequeathed as per their will upon their demise.