In a Joint Tenancy arrangement, what happens to the deceased's interest upon death?

In a Joint Tenancy arrangement, the unique characteristic is the right of survivorship, which means that when one joint tenant passes away, their interest in the property does not go to their heirs but instead transfers directly to the surviving joint tenants. This feature is what distinguishes joint tenancy from other forms of property ownership, such as tenancy in common, where the deceased's interest would typically pass to their heirs according to their will or the laws of intestacy if there is no will.

The surviving joint tenants will now hold the entire property in equal shares, and the deceased's interest is effectively eliminated from the ownership structure. This ensures that the property remains within the joint tenants and does not get tangled in probate or other legal complexities concerning the deceased's estate.

This continuity of ownership among the surviving joint tenants is central to the functionality of Joint Tenancy, providing a seamless transfer of property upon the death of one of the owners. Such an arrangement can be advantageous for estate planning, allowing for the quick and efficient transfer of property interests without the need for court intervention.