joint tenancy

American  

noun

Law.

1. a holding of property, either real or personal, by two or more persons with each sharing the undivided interest, the entire tenancy passing to the survivor or survivors.

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Example Sentences

Undergraduates still settling into university life have to quickly commit to a joint tenancy with fellow freshers they barely know to guarantee a roof over their head the following September.

From BBC

With joint tenancy with right of survivorship, they would each own an equal 100% share of this property, and if one of them died, the other would assume full ownership.

From MarketWatch

The bill includes provisions allowing the government to use unclaimed deposits to fund support for private tenants, and allowing a single joint tenant to end a joint tenancy.

From BBC

However, campaigners have warned the "joint tenancy loophole" means that, in many flat-shares, landlords are free to increase the rent by as much as they want when one person leaves.

From BBC

Make sure you understand the differences between joint tenancy and tenants-in-common.

From Slate