Right of Survivorship
The right of survivorship is an attribute of several types of joint ownership of property, most notably joint tenancy and tenancy in common. When jointly owned property includes a right of survivorship, the surviving owner automatically absorbs a dying owner's share of the property. Thus if A and B jointly own a house with a right of survivorship, and B dies, A becomes the sole owner of the house, despite any contrary intent in B's will.
Definition from Nolo’s Plain-English Law Dictionary
The right of a surviving co-owner to take ownership of a deceased owner's share of the property. Forms of ownership that come with a right of survivorship include joint tenancy, tenancy by the entirety, and community property with right of survivorship.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:23 pm
