Sentences with phrase «surviving joint owner»

In the event of the death of an owner, the entire beneficial interest in the Account shall be transferred to the surviving joint owner (s).

Assets held jointly with right of survivorship pass automatically by law to the surviving joint owner when one dies.

Joint tenancy is where more than one person owns real property and the property passes automatically on the death of one joint owner to the surviving joint owners.

Not exact matches

This means that, when one of the joint tenants dies, his ownership interest automatically gets divided between the surviving owners.

That's because the entire ownership transfers to the surviving owner, without having to go through probate, under joint tenancy.

-- If the ownership designation clearly stipulates that the form of ownership is joint tenants with right of survivorship, the surviving spouse may continue the contract as sole surviving owner.

The surviving joint tenant need only complete the required forms, provide proof of death and pay the land registry fees to become the sole owner of the property.

-- If the ownership designation clearly stipulates that the form of ownership is joint tenants with right of survivorship, the surviving spouse may continue the contract as sole surviving owner.

Like joint tenancy, this form of ownership means each spouse owns 100 percent of the property and an equal right to possess the home, and provides that when one spouse dies, the surviving spouse automatically becomes the property's sole owner.

Banks, realtors, title companies, etc., correspondingly, all recognize Florida real estate held as «joint tenants with right of survivorship» as being the sole property of the surviving tenant when one of the owners passes away.