joint tenancy agreement

A joint tenancy agreement is a legal arrangement where two or more people share ownership of a property. Each person has an equal interest and rights to use the property. A key feature is the right of survivorship, meaning if one owner passes away, their share automatically transfers to the surviving owners, not to heirs. This agreement often includes details about each person’s responsibilities and what happens if someone wants to sell or quit their share. It’s important for co-owners to understand their rights and obligations under this arrangement.