Right of survivorship

Right of survivorship,

Definition of Right of survivorship:

  1. Legal right by which the last surviving tenant (joint-tenant) automatically acquires sole and absolute ownership of an entire property. It applies to joint-tenancy agreements where two or more individuals have identical ownership interests in a property, and is designed to prevent the heir(s) or deceased joint-tenant(s) from making any claim(s) against the property.

Meaning of Right of survivorship & Right of survivorship Definition