Right of Survivorship

The right of a surviving joint owner (joint tenant) to total ownership of an asset after the other joint owner’s death.  Common in ownership of matrimonial homes.  If an older adult puts their adult child on a joint bank account or adds them to the title of the property, this may be seen as creating a resulting trust, rather than a gift with right of survivorship.  So at the time of the older adult’s death, the adult child may be seen to be holding the bank account or property ‘in trust’ for the estate.

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