joint tenancies

Joint tenancy is a way two or more people own property together, each with equal rights and shares. When one owner passes away, their share automatically transfers to the surviving owners, not heirs or beneficiaries. This is called the right of survivorship. Joint tenants share an interest equally, and all must agree to sell or transfer the property. It’s commonly used by spouses or close partners to ensure seamless transfer of property upon death. However, it requires clear intent and specific legal actions to create and manage.