What happens under rights of survivorship in joint tenancy?

In a joint tenancy arrangement, rights of survivorship mean that when one tenant passes away, their interest in the property does not get passed on through a will or any other means. Instead, the remaining tenants automatically inherit the deceased tenant's share of the property. This feature is one of the defining characteristics of joint tenancy, differentiating it from other forms of property ownership, such as tenancy in common, where an individual's share can be bequeathed or transferred according to their will.

This automatic transfer of interest occurs without the need for probate, allowing the surviving tenants to immediately own the deceased's share, thereby maintaining the unity of ownership. As a result, the property remains intact under joint tenancy, promoting a seamless transfer of ownership among the remaining parties.

Understanding how rights of survivorship function in joint tenancy is crucial for anyone involved with real estate, estate planning, or those considering how they want property ownership to be handled in case of death.