Joint Tenancy
Co-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
Full Definition
Joint tenancy is a form of co-ownership in which two or more people each hold equal, undivided interests in real property with the right of survivorship. The right of survivorship means that when a joint tenant dies, their interest automatically passes to the surviving joint tenants — not to heirs or through a will. Joint tenancy is created by the four unities: Time (interests acquired at the same time), Title (by the same instrument), Interest (equal shares), and Possession (all have equal right to possession) — remembered as TTIP. If one joint tenant sells their interest to a third party, the joint tenancy is severed and converts to a tenancy in common for that share.
Real-World Example
A couple purchases a home as joint tenants with right of survivorship. When one spouse dies, the surviving spouse automatically becomes the sole owner — without going through probate.
How Joint Tenancy Appears on the Real Estate Exam
Common question types, tested concepts, and what to watch out for
Remember TTIP (Time, Title, Interest, Possession) — all four unities must exist. Right of survivorship avoids probate. Selling one joint tenant's share severs the joint tenancy. Contrast with tenancy in common — no right of survivorship.
Related Terms
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