Joint tenancy with right of survivorship definition

Joint tenancy with right of survivorship means vehicle own- ership by two or more persons and the deceased joint owner’s interest in the vehicle is transferred to the surviving owners.
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Joint tenancy with right of survivorship means ownership by two or more people with a surviving joint tenant’s right to become sole owner.
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Joint tenancy with right of survivorship means vehicle ownership by two or more people persons and with the share of a deceased joint tenant owner’s interest in the vehicle going is transferred to the surviving tenant owners.
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Examples of Joint tenancy with right of survivorship in a sentence

  • Joint tenancy with right of survivorship means that if one Subscriber dies, the other Subscriber automatically will become the sole Subscriber and will assume all rights and obligations of the deceased Subscriber under the Plan including the right to receive a Refund of Contributions under subsection 14d) and an Accumulated Income Payment under section 13.

  • Joint tenancy with right of survivorship is not recognized in Quebec.

  • Joint tenancy with right of survivorship: Each owner has an equal, undivided interest in the property.

  • Joint tenancy with right of survivorship is a more practical way for a husband and wife to hold the family home, bonds, and bank account.

  • Joint tenancy with right of survivorship, as a form of ownership, is most common among spouses, and, secondly, among parents and children.

  • Joint tenancy with right of survivorship simplifies the administration of an estate.

  • Joint tenancy with right of survivorship has sometimes been referred to as a poor person’s will.

  • Assets such as bank accounts, real estate, and an automobile may be owned in "joint tenancy." Joint tenancy with right of survivorship means that all of the joint tenants have the right to use the property and to share in the income from the jointly owned property, regardless of who originally purchased or owned the property.

  • Joint tenancy with right of survivorship (“JTWROS”) is defined as follows: When two or more persons hold property as JTWROS [joint tenancy with right of survivorship], title to that property vests equally in those persons during their lifetimes, with sole ownership passing to the survivor at the death of the other joint tenant[s].

  • If a parent and child, for example, own property as joint tenants, then upon the parent’s death the child receives the property without the need and cost of a probate.Joint tenancy is part of what are sometimes called nonprobate transfers on death.3 Joint tenancy with right of survivorship may be the simplest and most efficient way for spouses to own property.


More Definitions of Joint tenancy with right of survivorship

Joint tenancy with right of survivorship means vehicle ownership by two or more persons and the deceased joint owner’s interest in the vehicle is transferred to the surviv- ing owners.
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Related to Joint tenancy with right of survivorship

  • Tenancy means the lawful occupation of residential real property and includes a lease or sublease.

  • Consent of the Limited Partners means the Consent of a Majority in Interest of the Limited Partners, which Consent shall be obtained prior to the taking of any action for which it is required by this Agreement and may be given or withheld by a Majority in Interest of the Limited Partners, unless otherwise expressly provided herein, in their sole and absolute discretion.

  • Academic term means a division of the school year during which a course of studies is offered, and includes a semester, quarter, or single consolidated summer term as defined by the institution.

  • Accessory building or structure means any portable, demountable or permanent structure,

  • Academic year means the period of twelve months beginning on 1st January, 1st April, 1st July or 1st September according to whether the course in question begins in the winter, the spring, the summer or the autumn respectively but if students are required to begin attending the course during August or September and to continue attending through the autumn, the academic year of the course is to be considered to begin in the autumn rather than the summer;

  • Condominium unit A Single Family Property within a Condominium Project.

  • Parking Lot means a building or land used for the parking or storage of ten or more motorcars or bakkies, or two or more buses or trucks, excluding −

  • residential premises means a house, building, structure, shelter, or mobile home, or portion thereof, used as a dwelling, home, residence, or living place by 1 or more human beings. “Residential premises” includes an apartment unit, a boardinghouse, a rooming house, a mobile home, a mobile home space, and a single or multiple family dwelling, but does not include a hotel, a motel, motor home, or other tourist accommodation, when used as a temporary accommodation for guests or tourists, or premises used as the principal place of residence of the owner and rented occasionally during temporary absences including vacation or sabbatical leave.

  • Area of shallow flooding means a designated AO or AH Zone on a community's Flood Insurance Rate Map (FIRM) with one percent or greater annual chance of flooding to an average depth of one to three feet where a clearly defined channel does not exist, where the path of flooding is unpredictable and indeterminate; and where velocity flow may be evident. Such flooding is characterized by ponding or sheet flow.