In joint tenancy, what happens when one tenant passes away?

In joint tenancy, what happens when one tenant passes away?

• A. The deceased tenant's interest gets divided among heirs
• B. The remaining tenants acquire the deceased's interest
• C. The property is sold to relieve the remaining tenants
• D. The tenancy is converted to a tenancy in common

Answer: (B)

In joint tenancy, when one tenant passes away, the remaining tenants automatically acquire the deceased tenant's interest. This principle is known as the right of survivorship, which is a defining characteristic of joint tenancy. The surviving tenants effectively absorb the deceased tenant's share of the property, thereby maintaining equal ownership among the remaining joint tenants without the interest being passed on to heirs or beneficiaries. This immediate transfer of interest ensures that the property remains undivided among the original tenants and prevents the introduction of outside parties into the ownership arrangement. The joint tenancy will continue until all tenants have either passed away or the property is otherwise disposed of.

In joint tenancy, when one tenant passes away, the remaining tenants automatically acquire the deceased tenant's interest. This principle is known as the right of survivorship, which is a defining characteristic of joint tenancy. The surviving tenants effectively absorb the deceased tenant's share of the property, thereby maintaining equal ownership among the remaining joint tenants without the interest being passed on to heirs or beneficiaries.

This immediate transfer of interest ensures that the property remains undivided among the original tenants and prevents the introduction of outside parties into the ownership arrangement. The joint tenancy will continue until all tenants have either passed away or the property is otherwise disposed of.