What is the purpose of joint tenancy regarding survivorship?

The purpose of joint tenancy regarding survivorship is to ensure that property passes automatically to co-owners upon death. In a joint tenancy, all owners have equal rights to the property, and a key feature is the right of survivorship. This means that when one joint tenant dies, their interest in the property does not go through probate but instead immediately transfers to the surviving joint tenants. This automatic transfer simplifies the process of transferring ownership and helps avoid complications that can arise from wills or probate proceedings. Therefore, the intent behind joint tenancy is to provide a mechanism for property to seamlessly transition to the surviving owners, reflecting the relationship and mutual agreement among the joint tenants.