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joint tenancy with right of survivorship (JTWROS)

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joint tenancy with right of survivorship (JTWROS)
Asset ownership for two or more persons in which each owner holds an equal share and may give away or sell that share without the permission of the other owner(s). In the event of death, an owner's share is divided equally among the surviving co-owners. Also called right of survivorship. Compare tenancy in common. See also tenancy by the entirety.
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