Joint tenancy is one of the most common forms of asset ownership.
When one or more persons hold title to an asset as Joint Tenants, each of them owns a 100 percent interest in the asset. When one Joint Tenant dies, each of the remaining Joint Tenants continues to own a 100 percent ownership interest. Ultimately, the sole surviving Joint Tenant owns the entire asset. It just seems like the natural thing to do and, especially between spouses in a long-term marriage, it reflects the financial partnership of their commitment. Nevertheless, as with most things in life, there are advantages and disadvantages to this form of asset ownership.