Joint Tenancy
In one sentence: A form of co-ownership with rights of survivorship.
What it means
On one owner's death, their share passes automatically to the survivor — outside probate but possibly creating gift, income, and estate tax surprises.
In one sentence: A form of co-ownership with rights of survivorship.
On one owner's death, their share passes automatically to the survivor — outside probate but possibly creating gift, income, and estate tax surprises.