Understanding Joint Tenants with Rights of Survivorship (JTWROS) and Their Impact on Shared Mortgages

Understanding joint tenants with rights of survivorship is vital in shared mortgages. In JTWROS, co-owners hold equal shares of a property, and if one owner passes away, their share automatically transfers to the surviving owner(s). This arrangement simplifies the transfer of property upon death, bypassing probate. However, it also affects shared m...