Joint tenancy requires the four unities (remembered as TTIP): Time (all interests created at the same time), Title (all interests created by the same document), Interest (all owners have equal shares), and Possession (all owners have equal right to possess the entire property). The right of survivorship means the property passes outside of probate upon death. Any joint tenant can unilaterally sever the joint tenancy by selling or transferring their interest, which converts it to a tenancy in common.
Three siblings own a vacation home as joint tenants. When one sibling dies, the deceased sibling's interest automatically passes to the two surviving siblings equally. The deceased sibling cannot will their share to someone else because the right of survivorship takes precedence.
Memorize TTIP (Time, Title, Interest, Possession) for the four unities required. The right of survivorship is the defining feature—it overrides a will. Any joint tenant can SEVER the joint tenancy by selling their interest, which destroys the right of survivorship for that share.
Related Terms
Related Concepts
The bundle of rights describes the rights associated with property ownership, allowing owners to use, control, enjoy, exclude others from, and dispose of the property.
A freehold estate represents ownership of real property with an indefinite duration.
A leasehold estate grants the right to possess and use property for a defined period of time, without conferring ownership.
A life estate is a freehold estate that grants ownership rights for the duration of someone's life.
Riparian rights concern properties bordering flowing bodies of water (rivers, streams), while littoral rights concern properties bordering non-flowing bodies of water (lakes, oceans).
Frequently Asked Questions
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