What does the right of survivorship entail?

The right of survivorship is a crucial concept in property ownership, particularly in joint tenancies. This legal provision means that when one joint tenant passes away, their share of the property automatically transfers to the remaining joint tenants rather than to the deceased's heirs. This ensures that the property remains within the group of surviving owners and avoids the lengthy and often complex process of probate, where the deceased's assets are distributed according to their will or state laws.

This mechanism of passing ownership directly to the surviving joint tenants emphasizes the importance of mutual interest and shared ownership among the joint tenants. It provides clarity and security for those involved, allowing for a seamless transition of property ownership without external claims from the deceased's estate or relatives. Thus, the correct understanding of the right of survivorship reinforces its role in facilitating the continuity of property ownership among joint tenants.