Joint Tenancy: The most common form of ownership when there are two or more owners. With real estate, the deed specifies “joint tenants”. Joint tenants each own the same interest in the property. Each has a right of survivorship; if there are two owners and one passes away, the other becomes the sole owner. Jointly owned property is not conveyed by a Will if any joint tenant is still living. Household items purchased by couples are jointly owned, as are bank accounts, cars and other property listing both people on the title.