what are joint tenants with right of survivorship jtwros 
joint tenants with the right of survivorship jtwros is a legal structure where two or more parties share ownership of a financial account or another asset when one of the joint owners dies their share automatically passes to the surviving co owner s each joint tenant has an equal right to the account s assets and is afforded survivorship rights if one of the account holder s dies the surviving member s inherit the total value of a deceased member s share upon the death of that other member regardless of any other will or heirs 1investopedia paige mclaughlinunderstanding joint tenants with right of survivorship jtwros contrary to what some people may believe the term joint tenant with the right of survivorship has nothing to do with being a lessee or tenant in a rental apartment jtwros is actually a legal concept that applies to individuals who own assets accounts or other types of property it is actually a form of co tenancy which is why this arrangement is also often called a joint tenancy co tenancy or joint tenancy is a concept in property law that is used to describe the various ways that a piece of property can be owned by two or more people at the same time a jtwros is one version of co tenancy that gives co owners equal rights to the asset in addition to the right of survivorship this means that both parties can freely use the asset as they please but if one tenant dies their ownership stake passes on to the surviving owner s 1a jtwros is most commonly used between married couples or between a parent and their child but it can also be established between parties who are not related as noted above this type of legal relationship can involve any number of financial accounts or assets such as this relationship can be broken if one or more of the parties involved sells their interest in the asset to someone else as such it becomes a tenancy in common tic which is a less restrictive form of joint ownership 23