fromRedfin | Real Estate Tips for Home Buying, Selling & More
2 days agoWhat Is a Joint Tenancy? Here's What You Need to Know
A joint tenancy is a legal arrangement where two or more individuals own property together, with each owner having an equal and undivided interest in the entire property. The defining characteristic of a joint tenancy is the 'right of survivorship.' This means that upon the death of one joint tenant, their share of the property automatically passes to the surviving joint tenant(s), bypassing the probate process and any provisions in a will.
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