Which statement about joint tenancy is true?

Which statement about joint tenancy is true?

• A. It has no right of survivorship.
• B. It has the right of survivorship.
• C. It can only be created between family members.
• D. It does not require equal ownership.

Answer: (B)

The main concept tested is the right of survivorship in joint tenancy. In a joint tenancy, owners hold the property with four unities: time, title, interest, and possession. Because of these unities, the distinctive feature is the right of survivorship: when one owner dies, the deceased’s share automatically passes to the surviving co-owners, not through a will or probate. This makes the statement that joint tenancy has the right of survivorship true. It’s what sets joint tenancy apart from other forms like tenancy in common, where each owner’s share can be inherited or devised separately. Also, joint tenancy requires equal ownership shares and equal rights to possess the whole property, so the idea that it does not require equal ownership is not correct. And it is not limited to family members; people can form a joint tenancy with non-family members as well. So the correct understanding is that joint tenancy includes the right of survivorship, causing the surviving owners to automatically own the deceased’s share.

The main concept tested is the right of survivorship in joint tenancy. In a joint tenancy, owners hold the property with four unities: time, title, interest, and possession. Because of these unities, the distinctive feature is the right of survivorship: when one owner dies, the deceased’s share automatically passes to the surviving co-owners, not through a will or probate.

This makes the statement that joint tenancy has the right of survivorship true. It’s what sets joint tenancy apart from other forms like tenancy in common, where each owner’s share can be inherited or devised separately. Also, joint tenancy requires equal ownership shares and equal rights to possess the whole property, so the idea that it does not require equal ownership is not correct. And it is not limited to family members; people can form a joint tenancy with non-family members as well.

So the correct understanding is that joint tenancy includes the right of survivorship, causing the surviving owners to automatically own the deceased’s share.