Real Estate Glossary

What is Joint Tenancy?

A form of co-ownership in which two or more people own a property together and have equal rights to the property. In joint tenancy, when one person dies, their interest in the property automatically transfers to the surviving owner or owners. This is also known as "right of survivorship". Joint tenancy can be useful in situations where multiple people wish to own a property together, but it can also come with certain risks and it's important to have a clear agreement in place.

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