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Joint tenancy

   Also found in: Legal, Financial, Wikipedia 0.04 sec.
(Law) a tenure by two or more persons of estate by unity of interest, title, time, and possession, under which the survivor takes the whole.

See also: Joint



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Cole says another misunderstanding is that holding assets in joint tenancy will bypass probate.
The surviving spouse executed a new will, and placed his funds in certificates of deposit that were held in joint tenancy with his new wife.
When we purchased our home in New Jersey together, we had to do so under joint tenancy to protect our rights as a couple and as individuals," Keene says.
 
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