In a joint tenancy, what happens when one owner passes away?

In a joint tenancy, when one owner passes away, the principle of "right of survivorship" comes into play. This legal concept means that the deceased owner's share does not go to their heirs but rather automatically transfers to the surviving joint tenants. This transfer occurs without the need for probate, making it a straightforward and efficient way to ensure that the property remains within the group of surviving owners.

This structure is a defining feature of joint tenancy, distinguishing it from other forms of co-ownership, such as tenancy in common, where an owner's share can be willed to heirs after their death. The right of survivorship means that the remaining tenants maintain equal and undivided interest in the property, reflecting a clear intention for continuity of ownership amongst the surviving joint tenants.