Definitions for "Joint Tenants with Right of Survivorship"
In the case of a joint account, on the death of one account holder, ownership of the account assets is transferred to the remaining account holder or holders.
A joint ownership of an account where, in the event of death, a deceased tenants ownership is passed to the surviving tenant.
Ownership by two people (usually spouses) in which each person owns an undivided interest in the entire property. When one joint tenant dies, the other has title to the entire property. (JTWROS)