Survivorship

Survivorship means:
the right of a joint tenant or tenants to maintain ownership rights following the death of another joint tenant. Survivorship prevents heirs of the deceased from making claims against the property. Former IRC (check if this IRC provision is current here) §2040.

Example of Survivorship:

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Travers and Vance Mead are brothers who own an apartment building in joint tenancy. When Travers Mead dies, Vance Mead, through the right of survivorship, becomes sole owner of the building.

See Inheritance Tax and Inheritance Tax.