What is Joint Tenancy?

Joint Tenancy is a co-ownership framework where all holders share undivided interest in an asset. A hallmark of this arrangement is the right of survivorship—if one owner passes away, their interest automatically transfers to the surviving joint tenants, bypassing standard inheritance processes. This mechanism can simplify transitions but demands strong trust among partners.

• Equal Shares: Each co-owner typically has an identical stake.
• Title Unification: All parties acquire rights simultaneously under the same title.
• Survivor Advantage: Swiftly reassigns ownership upon death of any party.
• Dissolving Tenancy: Converting to alternative forms if co-owners agree or a partition action arises.

Joint tenancy helps families or close associates streamline ownership handovers, though it may not suit those wanting individual shares that pass through personal estate directives.