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