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survivorship

 
Dictionary: sur·vi·vor·ship   (sər-vī'vər-shĭp') pronunciation

n.
  1. Law. The right of a person who survives a partner or joint owner to the entire ownership of something that was previously owned jointly.
  2. The condition of being a survivor.

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Business Dictionary: Survivorship
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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.

Real Estate Dictionary: Survivorship
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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. See Joint Tenancy.
Example: Travers and Vance Mead are brothers who own an apartment building, with the right of survivorship. When Travers Mead dies, Vance Mead, through survivorship, becomes sole owner of the building.

Law Dictionary: Survivorship
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A right whereby a person with an interest in property becomes entitled to the whole property by reason of his or her having survived another person who also had an interest in it. 20 N.Y.S. 2d 59, 62. It is one of the elements of a joint tenancy, and a tenancy by the entirety. See also survival statute.

 
 

 

Copyrights:

Dictionary. The American Heritage® Dictionary of the English Language, Fourth Edition Copyright © 2007, 2000 by Houghton Mifflin Company. Updated in 2009. Published by Houghton Mifflin Company. All rights reserved.  Read more
Business Dictionary. Dictionary of Business Terms. Copyright © 2000 by Barron's Educational Series, Inc. All rights reserved.  Read more
Real Estate Dictionary. Dictionary of Real Estate Terms. Copyright © 2004 by Barron's Educational Series, Inc. All rights reserved.  Read more
Law Dictionary. Law Dictionary. Copyright © 2003 by Barron's Educational Series, Inc. All rights reserved.  Read more