Under the estate law, joint tenancy is a special form of property ownership in which two or more persons own the same property. The co-owners or joint tenants share equal ownership rights over the property and have equal, undivided right to keep or dispose of it. This means that a property under joint tenancy cannot be disposed, developed, or sold if all the owners fail to reach a consensus.

Special form of property ownership

Special form of property ownership

Joint tenancy, on the other hand, possesses a “right of survivorship”. At the time of death of one of the co-owners, the right of survivorship provides the remaining owners the power to automatically inherit the decedent’s ownership right to the property. For example: A, B and C jointly own a land. Upon A’s death, his share in the property will be automatically transferred to B and C equally and wholly, instead to A’s heirs.

This type of ownership can be easily determined by the following features:

Joint tenants own an undivided, equal interest in the property.
The tenants’ interests or estates in land are fixed for exactly the same period of time.
The joint tenants hold the property under one title.
All tenants enjoy the same rights until the death of one member.
The tenants have the Right of Survivorship.