What does the term "rights of survivorship" imply in joint tenancy?

What does the term "rights of survivorship" imply in joint tenancy?

• A. The share is inherited through the legal heir
• B. The remaining tenants automatically receive the deceased's share
• C. The share must go through probate
• D. The estate takes control of the share

Answer: (B)

The term "rights of survivorship" in the context of joint tenancy means that when one co-owner of the property dies, their share of the property automatically passes to the surviving co-tenants rather than to the deceased's estate or heirs. This principle ensures that the remaining tenants continue to hold full ownership of the property without any interruption or delay that could arise from probate processes or inheritance claims. Injoint tenancy, all owners share equal ownership rights, and the rights of survivorship enforce the concept that the ownership structure remains intact, allowing for a seamless transition of property rights among the surviving owners. Consequently, this arrangement can prevent potential disputes among heirs and streamline the transfer of property interests upon the death of a co-tenant.

The term "rights of survivorship" in the context of joint tenancy means that when one co-owner of the property dies, their share of the property automatically passes to the surviving co-tenants rather than to the deceased's estate or heirs. This principle ensures that the remaining tenants continue to hold full ownership of the property without any interruption or delay that could arise from probate processes or inheritance claims.

Injoint tenancy, all owners share equal ownership rights, and the rights of survivorship enforce the concept that the ownership structure remains intact, allowing for a seamless transition of property rights among the surviving owners. Consequently, this arrangement can prevent potential disputes among heirs and streamline the transfer of property interests upon the death of a co-tenant.