National Ownership Practice Exam

When a joint tenant passes away, their interest in the property does not get passed on to their heirs or become part of the deceased's estate. Instead, the remaining interest automatically transfers to the surviving joint tenants due to the right of survivorship. This principle is a fundamental characteristic of joint tenancy, where all joint tenants share equal ownership of the property and hold the right to the entire property. This means that upon one tenant's death, their share is immediately absorbed by the surviving tenants, maintaining the unity of ownership and simplifying the transfer of property without the need for probate. The concept of survivorship is what distinguishes joint tenancy from other forms of ownership, such as tenancy in common, where a deceased owner's share would go to their heirs.