A type of ownership of real or personal property where two or more people each holds an undivided interest. Under common law, joint tenancy with a right of survivorship requires that the ownership interests are:

These four characteristics of joint tenancy, known as the four unities, are modified by statute in many states.

When a joint tenant dies or becomes incapacitated, the ownership interest passes without probate to the remaining joint tenants. In a joint tenancy, an ownership interest cannot be willed to someone who is not a joint owner. Most joint tenancies with right of survivorship are between spouses and other family members.

Under common law, all jointly owned property is presumed to have a right of survivorship. Many states, however, have enacted statutes that: