One of the fractional ownership interests of real estate. Typically gives each of the joint tenants a right of survivorship in which they become the sole owner of the real estate if the other owner dies first.

These are depository bank accounts where the account opening documentation requires the qualified intermediary and an authorized representative of the taxpayer to jointly act in regard to money movement at the bank account level. This account structure is often used in connection with the administration of LKE Programs and is specifically authorized by Rev. Proc. 2000-39 5.02.