55-20.1 - Joint ownership in real and personal property. - Virginia Statutes

§ 55-20.1. Joint ownership in real and personal property.

Any persons may own real or personal property as joint tenants with orwithout a right of survivorship. When any person causes any real or personalproperty, or any written memorial of a chose in action, to be titled,registered, or endorsed in the name of two or more persons "jointly," as"joint tenants," in a "joint tenancy," or other similar language, suchpersons shall own the property in a joint tenancy without survivorship asprovided in § 55-20. If, in addition, the expression "with survivorship,"or any equivalent language, is employed in such titling, registering orendorsing, it shall be presumed that such persons are intended to own theproperty as joint tenants with the right of survivorship as at common law.This section is not applicable to multiple party accounts under §§ 6.1-125.1through 6.1-125.16, or to any other matter specifically governed by anotherprovision of this code.

(1999, c. 196; 2000, c. 331; 2001, c. 718.)