Joint tenancy is one of the methods available for two or more people to hold title to real estate or personal property.
It includes a right of survivorship, meaning that on the death of one joint tenant, his/her interests transfer to the remaining joint tenant(s). Some of the main benefits of joint tenancy are noted below: The property involved does not pass through probate. Joint tenancies are relatively easy to establish. May not be subject to liens/claims by creditors |
