We are independent & ad-supported. We may earn a commission for purchases made through our links.
Advertiser Disclosure
Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.
How We Make Money
We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently of our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.
Finance

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

What Is a Right of Survivorship?

Leigia Rosales
By
Updated: May 17, 2024
Views: 12,248
Share

The legal options for how property may be titled, or held, when more than one person has rights to the property will vary among the different legal systems throughout the world. One option found within most common law legal systems is to provide for the right of survivorship to the property. When property is held with this right, the death of one its owners means that it passes directly to the remaining owners.

In the United States, real property may be titled in a number of ways when more than one person has rights to it. When a married couple purchases property, they frequently title the property as joint tenants with right of survivorship. By titling the property in this manner, if one spouse dies, the interest in the property that was held by the deceased spouse will automatically pass directly to the surviving spouse, thereby avoiding probate.

Probate is the legal process by which property of a decedent is accounted for and passed down to the beneficiaries upon the decedent's death. Probate is generally required in order to pass the title to property held by the decedent. The process can take months or even years to complete, which can create a number of practical problems for the spouse if all the property jointly held by the couple must pass through probate.

The right of survivorship may be found in the way real property is titled, as well as other types of property, such as bank accounts. When a bank account is opened with two or more signatories, establishing this right means that, if one of the owners of the account dies, the rights to the account pass directly to the other owners.

Aside from avoiding the often lengthy process of probate, the other advantage of titling property in this way is that it often takes precedence over other claims to the property. If, for instance, a creditor would otherwise have the right to attach a lien to the property as a result of a debt owed by one of the owners, if the property is titled with a right of survivorship, then the property passes directly to the remaining owner upon the death of the decedent. Because of this, the creditor does not have a legal right or opportunity to attach a lien to the property.

Share
WiseGeek is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.
Leigia Rosales
By Leigia Rosales
Leigia Rosales is a former attorney turned freelance writer. With a law degree and a background in legal practice, she crafts compelling content that informs and engages readers. Her ability to understand complex topics and communicate them effectively makes her a valuable asset to any content creation team.

Editors' Picks

Discussion Comments
By Azuza — On Oct 04, 2011

@indemnifyme - It's smart to plan out stuff like right of survivorship well in advance.

I've seen a few older members of my family go through problems with probate after their spouses passed away. Trust me, it's not pretty. The surviving spouse is already completely devastated, and then having to deal with the court is pretty much a nightmare. I wouldn't wish that on anyone!

By indemnifyme — On Oct 03, 2011

I am really glad I stumbled on this article. My boyfriend and I are thinking about getting married and eventually buying a home. I have no idea that joint marital property could go through probate if there isn't a provision for right of survivorship.

Whenever we do get the money together to buy a house, I'm going to make sure we take care of this. I find that most times, careful planning prevents problems down the road. I think this would definitely be one of those instances.

Leigia Rosales
Leigia Rosales
Leigia Rosales is a former attorney turned freelance writer. With a law degree and a background in legal practice, she...
Learn more
Share
https://www.wisegeek.net/what-is-a-right-of-survivorship.htm
Copy this link
WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.

WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.