With Benefit Of Survivorship

Filed Under:
Dictionary Says

Definition of 'With Benefit Of Survivorship'


A form of joint tenancy ownership where property passes to the survivor(s) when one of the joint members dies, rather than becoming part of the decedent's estate. With benefit of survivorship is a legally defined situation where two or more individuals jointly own property, such as a home, and where the ownership is retained by other joint owners in the event that one of the owners dies. Joint tenants with right of survivorship (JTWROS) is an example of a type of joint tenancy arrangement where all survivors share the assets upon the death of one of the tenants.
Investopedia Says

Investopedia explains 'With Benefit Of Survivorship'


An important characteristic of joint tenancies is the destructibility of the survivorship feature by one of the joint tenants during his or her lifetime, with or without the consent of other joint tenants. For example, two people may enter a joint tenancy agreement with right of survivorship for the purchase of a home. If one of the tenants dies, his or her undivided share of the home would automatically go to the remaining tenant through survivorship. If, however, one of the tenants transfers his interest in the home to someone else (for example, a niece), the joint tenancy would be severed and the home would then we held as a tenancy in common.
comments powered by Disqus
Hot Definitions
  1. Private Equity

    Equity capital that is not quoted on a public exchange. Private equity consists of investors and funds that make investments directly into private companies or conduct buyouts of public companies that result in a delisting of public equity.
  2. Valuation

    The process of determining the current worth of an asset or company. There are many techniques that can be used to determine value, some are subjective and others are objective.
  3. Valuation

    The process of determining the current worth of an asset or company. There are many techniques that can be used to determine value, some are subjective and others are objective.
  4. Tech Street

    A term used in the financial markets and the press to refer to the technology sector. Companies like Intel, Microsoft, Apple and Dell are all considered to be part of Tech Street.
  5. Tech Street

    A term used in the financial markets and the press to refer to the technology sector. Companies like Intel, Microsoft, Apple and Dell are all considered to be part of Tech Street.
  6. Momentum Investing

    An investment strategy that aims to capitalize on the continuance of existing trends in the market. The momentum investor believes that large increases in the price of a security will be followed by additional gains and vice versa for declining values.
Trading Center