Right of Survivorship

Right of Survivorship is a legal concept in joint ownership where, upon the death of one owner, their share automatically passes to the remaining owner(s) rather than being inherited through a will or estate. This means the surviving owner(s) continue to hold full ownership of the property. It simplifies transfer of ownership after death, avoiding probate, and is common in joint tenancy arrangements. Essentially, it ensures that the surviving owner(s) immediately acquire full rights to the property, maintaining continuity of ownership.