What Happens to a Joint Tenancy When the Last Surviving Owner Dies in Ontario?
When the last surviving joint owner dies, the property falls into that person's estate. Once the last joint tenant dies there is no one left to take by survivorship, so the land goes to that person's personal representative (estate trustee) under the transmission rules. The Land Titles Act deals with this in s. 120.
That means the will, or the rules on intestacy if there is no will, decide who benefits, and someone must have authority to deal with the land. In Ontario, probate is sought where the estate includes real property that does not pass to another person by right of survivorship. If the estate is valued at up to $150,000, a Small Estate Certificate can be sought, and above that the application is for a Certificate of Appointment of Estate Trustee. Estate administration tax is $15 for every $1,000 (or part) of the estate's full value if it is over $50,000, and there is none at $50,000 or less.
There is a narrow exception. An estate trustee may transmit land without a certificate if the estate is not more than $50,000, but a covenant to indemnify the Land Titles Assurance Fund is then required. A lawyer can confirm which route fits your situation.
Key takeaways
- Once the last joint tenant dies, no one is left to take by survivorship, so the land goes to that person's estate trustee.
- Probate is sought where the estate includes real property that does not pass to another person by right of survivorship.
- A Small Estate Certificate can be sought if the estate is valued at up to $150,000, and above that the application is for a Certificate of Appointment of Estate Trustee.
- Estate administration tax is $15 for every $1,000 (or part) of the estate's full value if it is over $50,000, and there is none at $50,000 or less.