Joint tenancy is the ownership of property or assets by two or more co-owners (joint tenants) who have identical interests in the property or assets—and also have a right of survivorship. Real property (real estate), bank accounts, and brokerage accounts are examples of property or assets that may be owned by two persons (often married persons) as joint tenants with a right of survivorship.

A right of survivorship means that upon the death of a joint tenant the property passes directly to the other joint tenant(s), allowing the ownership to be transferred to the surviving joint tenant(s) without going through the probate or court systems. A joint tenancy is sometimes referred to as a joint tenancy with right of survivorship.

This right of survivorship is what distinguishes a joint tenancy from a tenancy in common, in which co-owners hold the property as tenants in common. In some states the right of survivorship must be clearly expressed in the document transferring or conveying the property to the joint tenants, or the tenancy will be presumed to be a tenancy in common.

Laws vary from state to state and in many states the law regarding joint ownership of property or assets is located in a state’s statutes—although it may also be located in a state’s court opinions (common law or case law).

In Georgia, joint tenancy with right of survivorship (JTWROS) is recognized as a form of property co-ownership. This arrangement allows two or more individuals to hold property with equal rights to the whole property and includes the right of survivorship. Upon the death of one joint tenant, their interest in the property automatically passes to the surviving joint tenant(s), bypassing the probate process. To create a joint tenancy in Georgia, the intent for the property to be held as JTWROS must be clearly stated in the deed or other instrument of transfer. If the language is not explicit, the ownership may be presumed to be a tenancy in common, which does not include the right of survivorship. It is important for individuals considering this form of ownership to ensure that the property deed explicitly states the joint tenancy with right of survivorship to achieve the desired legal effect.