Joint Tenants

This is the owning of land or property by two or more people who are co-owners or “joint tenants”.

Each has rights in the whole of the property and is entitled to a share of any money raised from selling it. The other key point about a joint tenancy is that when one of the joint tenants dies, the ownership of the property automatically passes to the survivor(s), in contrast to property held by "tenants in common".

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See also: Financial Services, Mortgages