What does Right of Survivorship mean? Read on to discover the definition & meaning of the term Right of Survivorship - to help you better understand the language used in insurance policies.
Right of Survivorship
The right of survivorship refers to a person's right to own an entire property after a co-owner of the property dies. This situation commonly occurs in "joint tenancy" situations in which two people have ownership stakes in a property.
We hope the you have a better understanding of the meaning of Right of Survivorship.