Which type of ownership allows for equal rights and survivorship among owners?

The type of ownership that allows for equal rights and survivorship among owners is joint tenancy. In a joint tenancy arrangement, two or more owners hold property together with equal shares, and a key feature is the right of survivorship. This means that if one owner passes away, their share of the property automatically transfers to the surviving owner(s) rather than going through probate. This creates a seamless transition of ownership and ensures that the property remains within the remaining co-owners.

This ownership structure is commonly used by couples and family members who wish to ensure that their surviving partner or relative automatically inherits their share without the complications of probate processes. Joint tenancy requires the four unities: unity of time, title, interest, and possession, meaning all owners must acquire their interest in the property at the same time, through the same document, with the same rights, and possess the entire property together.

In contrast, sole ownership pertains to an individual owning property exclusively, with no shared rights. Tenancy in common allows for shared ownership, but does not include the right of survivorship; each owner can will their share to heirs. Community property typically applies to married couples in certain jurisdictions, where property acquired during marriage is considered jointly owned, but it does not automatically include