Joint tenancy is the ownership of a piece of property by two or more people. Each owner has equal rights to the use of the property during their lives. At the death of each owner, the property goes to the survivors. The last survivor becomes the sole and exclusive owner of the property, with the absolute right to sell or give it to anyone. Joint tenancies were once limited to real estate, but today they may be created in personal property as well. For example, two or more people might own a painting as joint tenants with the right of survivorship.