Joint Tenancy

Sometimes also referred to as “Joint Tenants with Rights of Survivorship.” A form of legal co-ownership of property. At the death of the first co-owner to die, the surviving co-owners hold title together and the heirs of the first co-owner to die have no interest in the title, no matter provisions made in a Last Will and Testament of the deceased co-owner. This is true for all co-owners who die, except the last co-owner. Upon the death of the next to last co-owner to die, the sole surviving of all the previous owners becomes sole owner of the property and the property interest will pass according to the provisions made in their Will.

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