Joint Tenancy

Joint Tenancy with Right of Survivorship. This is the defining feature. If Owner A dies, their share goes immediately to Owner B (the surviving owner). It does not go to the heirs. Result: Owner B now owns 100% of the house. In a Joint Tenancy, everyone must own an equal slice of the pie. If there are 4 owners, they each own 25%.Creating a Joint Tenancy (The "PITT" Test):To create this, the four "Unities" must happen at the same time:Possession (Equal right to use).Interest (Equal % ownership).Time (Everyone bought it at the same time).Title (Everyone is on the same deed).Breaking the Chain: If Owner A sells their share to a stranger (Buyer C), the Joint Tenancy is broken for that share. Buyer C becomes a Tenant in Common (no survivorship), while the other original owners might remain Joint Tenants with each other.