“Jus accrescendi” is a Latin term that means “right of survivorship” in English. It is a legal concept that is commonly associated with joint ownership or co-ownership of property, particularly in the context of real estate or joint bank accounts.
When a property is owned with the right of survivorship, it means that if one of the co-owners dies, their share of the property automatically transfers to the surviving co-owner(s), instead of being passed on to their heirs or beneficiaries through a will or inheritance. This right ensures that the property remains undivided and under the control of the surviving co-owner(s).
The specifics of how the right of survivorship is applied can vary depending on the jurisdiction and the way in which the co-ownership was established. However, the general principle is that it allows for a seamless transfer of ownership upon the death of one co-owner.
