As the surviving owner you have 100% interest in the property and the property is not subject to faraid
The Fatwa Committee would like to remind members of the public of the following:
To seek legal advice before making decision on the type of contract to enter into or convert from/to
All owners must be clear of the legal consequences of their decision, and the implications
Be mindful when making any decision relating to property ownership
Avoid causing injustice and difficulties to living beneficiaries, especially those who would end up losing their shelter because of this decision
5) Does this mean your Faraid beneficiaries are losing their right to your estate?
With the new 2019 fatwa, under joint tenancy contract, your interest in the property would automatically pass to the surviving joint owner (such as your spouse) after your passing. It is no longer considered as part of your estate.
If you wish for your share to be distributed according to faraid, you can opt for tenancy-in-common contract where each co-owner holds a separate and distinct share in the property. Upon death, the share will form as part of the estate and be distributed accordingly.
You now have clearer options that are both religiously and legally valid.