In the event of death in a joint tenancy, what happens to the property?

In a joint tenancy, one of the defining characteristics is the right of survivorship. This legal concept means that when one joint tenant passes away, their interest in the property does not pass to their heirs or beneficiaries. Instead, the surviving joint tenant automatically acquires full ownership of the deceased's share of the property.

This means the survivor "steps into the shoes" of the deceased joint tenant, effectively owning the property entirely without the need for probate or any further legal action. The joint tenancy is structured in such a way that it ensures the property seamlessly transitions to the remaining owner, providing clarity and stability in property ownership after one of the tenants dies.

This fundamental principle is what makes joint tenancy a popular choice among co-owners who wish to ensure that ownership remains uncomplicated and direct upon the death of one of the owners.