Return to the Mortgage Glossary Home to view explanations for all mortgage terms. What follows is the definition for the term Joint Tenants as it relates to mortgages in the UK. Joint TenantsWhen land or property is owned by two or more people who are co-owners they are known as joint tenants. Each has rights in the whole of the property and is entitled to a share of any money raised from selling it. An important point with a joint tenancy is that when one of the joint tenants dies, the ownership of the property automatically passes to the survivor(s), in contrast to property held by 'tenants in common'.
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