One of the main features of a joint tenancy is the right of survivorship. This means that if one of the joint tenants dies, the other automatically and immediately receives the deceased person’s share. In other words, the deceased person’s share in the joint tenancy is not passed on as an asset of his or her estate to beneficiaries, whether or not a will exists. It is fairly common for a couple to hold the legal interest in the property by means of joint tenancy. Thus, you should consider tenancy-in-common if you do not want to have your interest go automatically to the other parties.

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