The term "right of survivorship" is most often associated with which type of ownership?

The term "right of survivorship" is primarily associated with joint tenancy, a form of property ownership in which two or more individuals hold an equal share of the property. This type of ownership features a key aspect: if one owner passes away, their share automatically transfers to the surviving owner(s) rather than being passed on to their heirs or through a will. This characteristic ensures that the entire property remains under the control of the surviving owners, simplifying the transfer process and avoiding probate.

In the context of joint tenancy, the right of survivorship serves to maintain the unity of ownership among the surviving tenants and prevents fragmentation of the property interests. As a result, joint tenants can more easily manage and have uninterrupted access to the property even in the event of a co-owner's death.

Understanding the right of survivorship is essential for those involved in real estate transactions, especially when considering how ownership titles will affect the distribution of property upon the death of an owner.