What distinguishes Joint Tenants with Right of Survivorship from other forms of ownership?

Joint Tenants with Right of Survivorship is a specific form of property ownership that has unique characteristics related to how ownership is shared and what happens upon the death of an owner. In this arrangement, when one joint tenant dies, their interest in the property automatically transfers to the surviving joint tenant(s). This means that the survivor inherits the deceased owner’s share of the property equally without going through probate. This feature ensures a seamless transition of ownership, maintaining the equal sharing principle among remaining tenants.

The key distinguishing characteristic is the right of survivorship itself, which fundamentally sets this form of ownership apart from others that may simply distribute property based on a will or through the probate process. In contrast, other forms of ownership, such as tenants in common, do not automatically transfer ownership upon death, and the deceased owner's share may be inherited by heirs who were not part of the original ownership agreement.

Therefore, the critical aspect of this ownership structure is the immediate inheritance of the property by the survivor, thereby facilitating a clear and direct line of ownership that enhances both security and continuity among the owners.