Joint Tenancy – Glossary | RJP Estate Planning

Property & Real Estate

A property ownership form where the surviving owner automatically inherits, but that does not fully avoid probate.

Joint tenancy is a form of property ownership where two or more owners hold equal shares. The key feature is right of survivorship. When one joint tenant dies, their share automatically transfers to the survivor without probate.

When Joint Tenancy Avoids Probate

Joint tenancy avoids probate only when the first joint tenant dies. The surviving owner automatically receives full ownership. No court involvement is needed.

When Joint Tenancy Fails

After the second death: When the surviving joint tenant dies, the property must go through probate. There is no remaining survivor to inherit automatically.
Common disaster: If both joint tenants die at the same time, the property goes through probate. This can happen in a car accident or similar event.
Joint liability: Property in joint tenancy is exposed to both owners' debts and lawsuits. A creditor judgment against one owner can attach to the property.

Joint Tenancy vs. a Living Trust

A revocable living trust avoids probate at both the first and second death. It provides incapacity protection and does not create joint liability exposure. For most Arizona families, a living trust is the more complete solution. Joint tenancy works best for property held between spouses.