What Does Joint Tenants With Right of Surviorship Mean In Estate Planning?

What Does Joint Tenants With Right of Surviorship Mean In Estate Planning?

When one owner dies, that share is automatically transferred to the other joint owners equally.

Example Of Joint Tenants In Regards To Estate Planning

My siblings and I all owned an equal share of the family farm.  When my brother died the three of us still living automatically for his share because we held it as joint tenants with right of survivorship.

 

Kelley Scrocca, LLM
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