Joint Tenancy
Explore joint tenancy, a common estate planning tool, to understand its role in property ownership and safeguarding family interests.
What is joint tenancy?
Joint tenancy is a form of property ownership where two or more individuals hold equal ownership shares with rights of survivorship. This means that upon the death of one owner, their share automatically passes to the surviving owners without needing probate. Joint tenancy is often used in estate planning to simplify the transfer of assets, maintain continuity of ownership, and provide peace of mind by ensuring that property seamlessly passes to the survivors. This arrangement can be particularly beneficial for couples and close family members who wish to avoid probate and ensure quick access to shared assets.
