What happens to a deceased owner's share in a Joint Tenancy?

Prepare for the Michigan State Title Insurance Exam. Enhance your study with flashcards and multiple-choice questions. Understand questions with detailed hints and explanations. Ace your exam!

In a Joint Tenancy, when one of the owners passes away, the deceased owner's share automatically transfers to the surviving owners. This process occurs through the right of survivorship, which is a key characteristic of Joint Tenancy. Unlike Tenancy in Common, where a deceased owner's share would go to their heirs or estate, Joint Tenancy eliminates the need for probate in this aspect, ensuring that the remaining owners retain full ownership without any division or claims coming from the deceased owner's estate. Thus, the surviving owners benefit directly from the deceased owner's share, allowing them to maintain collective ownership of the property seamlessly.

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