Joint Tenancy with Right of Survivorship

What It Means

Joint tenancy with right of survivorship (JTWROS) is a form of property Vesting in which two or more owners hold equal, undivided interests in the same property. Its defining feature is the right of survivorship: when one co-owner dies, their share transfers automatically to the surviving co-owners by operation of law, bypassing Probate entirely.

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Joint tenancy requires equal ownership shares. Unlike Tenants in Common, where co-owners can hold unequal percentages reflecting their financial contributions, JTWROS mandates that every co-owner holds the same interest — regardless of how much each party contributed.

How Joint Tenancy Works

Joint tenancy is created when four legal conditions — known as the four unities — are satisfied simultaneously: all co-owners acquire their interest at the same time (unity of time), through the same instrument (unity of title), with equal shares (unity of interest), and with equal rights to possess the entire property (unity of possession).

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If any unity is broken, the joint tenancy may be severed — converting that co-owner's share to a tenancy in common. Common severance triggers include a co-owner transferring or encumbering their interest, which may convert the ownership to a tenancy in common.

JTWROS vs. Tenants in Common

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Why It Matters for Co-owners

JTWROS is most commonly chosen by co-owners who want automatic survivorship — typically married couples or close family members who intend for the surviving party to inherit the full property interest without court involvement. However, the equal-share requirement makes it impractical for co-buyer groups where financial contributions are unequal.

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Co-owners should also understand that JTWROS overrides a will. Even if a co-owner's estate plan directs their property interest to a specific beneficiary, the survivorship right takes precedence — the share passes to the surviving co-owners regardless of what the will states.

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The choice between JTWROS and TIC should be made deliberately, in coordination with the Co-ownership Agreement and with guidance from a qualified attorney. The vesting designation is recorded on the Deed and has lasting legal and financial consequences.

Key Points

• All co-owners hold equal shares with automatic right of survivorship
• When one owner dies, their share transfers to surviving owners, bypassing probate
• Requires four unities — time, title, interest, and possession — to be created
• Survivorship overrides a will; the share passes to surviving co-owners regardless of estate plan directives
• Less flexible than Tenants in Common due to the equal-share requirement
• Vesting choice should align with the Co-ownership Agreement and be confirmed before closing