Joint tenancy is a form of property ownership where two or more individuals share equal ownership rights and interests in a property. This type of co-ownership is characterized by the right of survivorship, which means that upon the death of one joint tenant, their ownership interest automatically passes to the surviving joint tenant(s), bypassing the probate process. Joint tenancy requires that all co-owners acquire the property at the same time, hold equal shares, and possess the same rights to use and enjoy the property.
- Community property
- Right of survivorship
- Tenancy by the entirety
- Tenancy in common
- Investopedia: “Joint Tenancy”
- Legal Information Institute (LII): “Joint Tenancy”
- Realtor.com: “Joint Tenancy: What It Means and How It Affects Homeownership”