In a Joint Tenancy, what occurs to the property when three out of four tenants die?

In a Joint Tenancy, when one or more tenants pass away, the principle of "survivorship" applies. This means that the remaining tenants automatically inherit the decedent's share of the property. In the scenario presented, if three out of four tenants die, the surviving tenant retains full ownership of the property. This form of ownership is referred to as ownership in severalty, meaning that the surviving tenant now holds the entire property individually, free from any claims by the deceased tenants' heirs.

This concept is fundamental to Joint Tenancy and reflects the unique feature that distinguishes it from other forms of co-ownership, such as Tenancy in Common, where heirs could inherit a deceased tenant’s share instead of it being automatically transferred to the remaining tenants. The focus in Joint Tenancy on survivorship ensures that ownership consolidates with the surviving tenant, rather than being diluted among heirs or divided further.