In joint tenancy, what is the right of survivors to acquire the interest of a deceased joint tenant called?

In joint tenancy, the right of survivors to acquire the interest of a deceased joint tenant is known as the right of survivorship. This legal principle ensures that when one joint tenant passes away, their share of the property automatically transfers to the remaining joint tenants rather than being passed on to the deceased’s heirs or designated beneficiaries. This feature of joint tenancy is significant because it simplifies the transfer of ownership and helps avoid the complexities of probate, ensuring that property remains within the group of surviving joint tenants.

The right of survivorship is fundamental to joint tenancy, distinguishing it from other forms of co-ownership, such as tenants in common, where each owner has a distinct and divisible interest in the property that can be willed to others. Understanding the right of survivorship is crucial for those involved in or considering joint tenancy arrangements, as it has essential implications for estate planning and property management.