What is joint tenancy with right of survivorship?
Joint tenancy with right of survivorship is one of several ways that two or more people can own an interest in the same property at the same time. This type of ownership applies to both personal property – furniture, cars, boats, bank accounts, CD’s – and to real property – homes, buildings and land. Other ways more than one person can own an interest in the same property include trusts, partnerships and as “tenants in common.” A married couple may hold property as “tenants by the entirety”, which is similar but not the same as joint tenancy with right of survivorship. You may wish to investigate which type of ownership is best suited to your needs. Joint tenancy with right of survivorship is different from any other way for two or more people to own property because it gives all joint tenants what is known as the “right of survivorship”. This means that, if one of the joint tenants dies, his share automatically goes to the other joint tenants who survive him. In some states the surviv
