Terms Used In Indiana Code 23-14-40-3

• Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
• Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.