Joint Tenants in Common - JTIC

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Dictionary Says

Definition of 'Joint Tenants in Common - JTIC'

A type of brokerage account which is owned by at least two people with no rights of survivorship afforded to any of the account holders.
Investopedia Says

Investopedia explains 'Joint Tenants in Common - JTIC'

In this type of brokerage account, a surviving tenant of the account does not necessarily acquire the rights (and account assets) of the deceased person. Rather, each tenant in the account can stipulate in a written will how his/her assets will be distributed upon his/her death. Generally, the member ownership in the account is determined on a pro rata basis, meaning that if there are two tenants in the account, each will have a 50% claim on the account's value.

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