What occurs to property when one joint tenant dies?

When one joint tenant dies, the property automatically passes to the surviving tenants by default. This principle operates under the legal concept of "right of survivorship," which is a key feature of joint tenancy. Under this arrangement, all joint tenants hold equal ownership interests in the property, and upon the death of one joint tenant, their interest does not pass to their heirs; instead, it is absorbed by the remaining joint tenants.

This ensures that the surviving joint tenants continue to hold complete ownership of the property without the need for probate or other legal processes. This characteristic of joint tenancy makes it a popular choice in estate planning, as it provides a straightforward way to transfer property ownership upon death.

In contrast to this, the other options reflect different scenarios not applicable to joint tenancy. For example, dividing property among heirs is characteristic of tenancy in common, while selling property to cover debts or transferring it according to a will is associated with assets that do not have joint tenancy provisions. Therefore, the correct answer highlights the unique benefit of joint tenancy in facilitating the transfer of property upon the death of a joint tenant.