What’s a survival right?

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Different legal systems have varying options for how property can be titled when multiple people have rights to it. The survival right is a common option in common law systems, where the property passes directly to the remaining owners upon the death of one owner. Titling property this way can avoid probate and take precedence over other claims to the property. Bank accounts can also establish the right of survival.

The legal options for how property can be titled, or held, when more than one person has rights to the property will vary between different legal systems around the world. One option found in most common law legal systems is to provide for the survival right to property. When property is held under this right, the death of one of its owners means that it passes directly to the remaining owners.

In the United States, real estate can be titled in various ways when more than one person has rights to it. When a married couple purchases a property, they often qualify them as livelihood roommates. By putting assets in this way, in the event of the death of either spouse, the interest in the property that was held by the deceased spouse will automatically pass directly to the surviving spouse, thus avoiding probate.

Probate is the legal process by which a deceased’s property is accounted for and passed on to the beneficiaries upon the deceased’s death. Probate is generally required to transfer title to property held by the deceased. The process can take months or even years to complete, which can create a number of practical problems for the spouse if all of the assets jointly by the couple have to go through probate.

The right of survival can be found in how real property is titled, as well as other types of property, such as bank accounts. When a bank account is opened with two or more signatories, establishing this right means that if one of the account holders dies, the rights to the account pass directly to the other holders.

Besides avoiding the often lengthy probate process, the other benefit of titling property this way is that it often takes precedence over other claims to the property. If, for example, a creditor would otherwise have the right to attach the property following a debt owed to one of the owners, if the property holds a survival right, then the property passes directly to the remaining owner on death of the deceased. Because of this, the lender does not have the legal right or opportunity to attach a lien to the property.




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