Joint Tenancy With Right of Survivorship (JTWROS)

Joint tenancy with right of survivorship is a form of real estate ownership. Under JTWROS, two or more tenants share an undivided interest in a property. Also, each tenant has equal rights and obligations. Intrinsically, this type of arrangement creates a right of survivorship. Therefore, if one owner dies, his or her interest automatically transfers to the surviving owner(s).