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Meaning of joint tenancy

joint' ten'ancy

Pronunciation: [key]
— Law. Law.
  1. a holding of property, either real or personal, by two or more persons with each sharing the undivided interest, the entire tenancy passing to the survivor or survivors. Cf. tenancy in common.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.