In joint tenancy, what happens to a deceased tenant's share?

Prepare for the Saskatchewan Mortgage Associate Exam with comprehensive questions and flashcards. Study effectively using multiple choice questions and hints to enhance understanding. Be exam-ready!

In joint tenancy, when one of the tenants passes away, their share of the property does not go to their estate or get divided amongst the remaining tenants. Instead, it automatically passes to the surviving joint tenant(s) through a legal principle known as the right of survivorship. This means that the remaining joint tenants gain full ownership of the deceased tenant's share without the need for probate or a will. This feature is a fundamental aspect of joint tenancy, distinguishing it from other forms of property ownership such as tenancy in common, where a deceased person's share would indeed go to their estate. This automatic transfer helps to simplify the process of inheritance and ensures that the property remains with the surviving owners.

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