Definition
The Right of Survivorship is a legal principle that allows the remaining co-owner(s) of a property to inherit the deceased co-owner’s share automatically. This principle is a core aspect of ownership arrangements like Joint Tenancy and Tenancy by the Entirety.
Examples
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Joint Tenancy: Frank Adams and Anna Adams own a property as joint tenants with the right of survivorship. Upon Frank’s death, Anna automatically inherits Frank’s share of the property without going through probate.
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Tenancy by the Entirety: A married couple, John and Jane Smith, own their home as tenants by the entirety. If John passes away, Jane would inherit John’s share of the property seamlessly due to the right of survivorship.
Frequently Asked Questions
What is Joint Tenancy?
Joint Tenancy is co-ownership of property wherein each co-tenant has an equal share and interest in the property, alongside the right of survivorship.
How does the Right of Survivorship affect probate?
The Right of Survivorship allows the property to bypass probate, as the surviving co-owner automatically inherits the deceased co-owner’s share.
Can the Right of Survivorship be dissolved?
Yes, the Right of Survivorship can be dissolved if the joint tenancy is broken, which can occur through selling one’s share or converting the ownership to a tenants-in-common arrangement.
Is Right of Survivorship automatic in all joint ownerships?
No, Right of Survivorship particularly applies to Joint Tenancy and Tenancy by the Entirety. Tenants in common do not have this right unless stipulated otherwise.
- Joint Tenancy: A form of property co-ownership where tenants equally share ownership and benefit from the right of survivorship.
- Tenancy by the Entirety: A legal form of joint property ownership specifically for married couples, incorporating the right of survivorship.
- Tenants in Common: Co-ownership arrangement where each tenant owns a specific share of the property without the right of survivorship.
- Probate: The legal process of administering a deceased person’s estate.
Online Resources
- Investopedia - Understanding Right of Survivorship
- Nolo - Joint Tenancy and Right of Survivorship
- LegalZoom - Guide to Tenancy by the Entirety
- Bankrate - Probate Explained
References
- Black’s Law Dictionary, 10th Edition
- “Real Estate Principles” by David C. Ling & Wayne R. Archer
- “International Encyclopedia of Housing and Home” edited by Susan J. Smith
Suggested Books for Further Studies
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“Property Law: Rules, Policies, and Practices” by Joseph William Singer, Bethany Berger, Nestor M. Davidson, Eduardo Penalver
- Coverage of property law principles with insights into joint tenancies and the right of survivorship.
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“Principles of Real Estate Practice” by David C. Ling & Wayne Archer
- A comprehensive guide to real estate practices incorporating property ownership structures.
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“Estate Planning Basics” by Denis Clifford
- Fundamentals of estate planning including probate avoidance strategies like the right of survivorship.
Real Estate Basics: Right of Survivorship Fundamentals Quiz
### Is the Right of Survivorship applicable to Tenants in Common?
- [ ] Yes, it is applicable to Tenants in Common.
- [x] No, it is not applicable to Tenants in Common.
- [ ] It depends on the state's laws.
- [ ] Only if specified in a will.
> **Explanation:** The Right of Survivorship is not applicable to Tenants in Common. This right is specifically featured in joint tenancies and tenancies by the entirety.
### Which ownership type mainly benefits from the Right of Survivorship?
- [x] Joint Tenancy
- [ ] Tenants in Common
- [ ] Sole Ownership
- [ ] Community Property
> **Explanation:** Joint Tenancy primarily benefits from the Right of Survivorship, ensuring the property interest automatically passes to the surviving tenants.
### Does the Right of Survivorship prevent probate?
- [x] Yes, it prevents the property from going through probate.
- [ ] No, probate is still required.
- [ ] Only in specific cases.
- [ ] It depends on the will.
> **Explanation:** The Right of Survivorship prevents the property from going through probate as the surviving co-owner inherits the interest automatically.
### Is Right of Survivorship exclusive to married couples?
- [ ] Yes, it is exclusive to married couples.
- [ ] No, it can be applied to business partners only.
- [x] No, it is not exclusive to married couples.
- [ ] Yes, in a Tenancy by the Entirety.
> **Explanation:** The Right of Survivorship is not exclusive to married couples; it applies to any co-ownership held under Joint Tenancy and Tenancy by the Entirety.
### What legal principle bypasses the court-administered probate process for property?
- [ ] Tenants in Common
- [x] Right of Survivorship
- [ ] Life Estate
- [ ] Leasehold Estate
> **Explanation:** The Right of Survivorship allows for bypassing the court-administered probate process by enabling automatic transfer of ownership to the surviving co-owner.
### Can the Right of Survivorship be included in a will?
- [ ] Yes, it must be stated in a will.
- [ ] Only for Tenants in Common.
- [x] No, it automatically applies without a will.
- [ ] It depends on the executor's preference.
> **Explanation:** The Right of Survivorship automatically applies to joint tenancies and tenancies by the entirety, irrespective of will provisions.
### What is the key feature distinguishing Joint Tenancy from Tenants in Common?
- [ ] Shared utilities
- [ ] Equal shares of income
- [x] Right of Survivorship
- [ ] Liability for debts
> **Explanation:** The Right of Survivorship is the key feature distinguishing Joint Tenancy, where ownership passes automatically to surviving tenants, from Tenants in Common.
### How is a property handled if one joint tenant passes away?
- [x] The deceased tenant's interest automatically transfers to the other joint tenant(s).
- [ ] The property goes into probate.
- [ ] The deceased tenant's interest is sold.
- [ ] The interest remains with the executor.
> **Explanation:** If one joint tenant passes away, their interest automatically transfers to the other joint tenant(s) due to the Right of Survivorship.
### Joint Tenancy ensures what happens to a deceased tenant's share?
- [ ] Is donated to charity.
- [ ] Passes according to their will.
- [x] Automatically transfers to surviving tenants.
- [ ] Remains the property of the estate.
> **Explanation:** In Joint Tenancy, the deceased tenant's share automatically transfers to the surviving tenant(s), bypassing probate.
### Does Tenancy by the Entirety include the Right of Survivorship for married couples?
- [x] Yes, it includes this right automatically.
- [ ] No, it does not.
- [ ] Only when specified.
- [ ] Only in certain states.
> **Explanation:** Tenancy by the Entirety inherently includes the Right of Survivorship for married couples, leading to seamless transfer upon the death of a spouse.
