What does the right of survivorship entail in tenancy ownership?

The right of survivorship in tenancy ownership specifically refers to the automatic transfer of an owner's share in a property to the surviving co-owner upon the death of one of the owners. This legal principle ensures that the surviving co-owner retains full ownership of the property without the need for probate or any additional legal proceedings.

In a joint tenancy arrangement, for example, if one owner passes away, the deceased owner's interest in the property seamlessly transfers to the surviving joint tenant, thus simplifying the process and avoiding delays associated with transferring property through wills or estate proceedings. This right helps maintain the continuity of ownership and is a key aspect of joint tenancy agreements, distinguishing it from other forms of ownership such as tenancy in common, where ownership shares can be inherited by heirs rather than passed directly to a co-owner.