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Investment Term for the Day - Joint Tenants with Right of Survivorship

Investment Term for the Day - Joint Tenants with Right of Survivorship

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 The term joint tenant with the right of survivorship (JTWROS) refers to a legal ownership structure involving two or more parties for any financial account or another asset. When one of the co-owners dies in a joint tenancy with the right of survivorship, then the surviving co-owner automatically owns the asset.
Each tenant has an equal right to the account's assets and is afforded survivorship rights if one of the account holder(s) dies.
A surviving member inherits the total value of the other member's share of property upon the death of that other member.

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