Which of the following best describes joint tenancy?

Joint tenancy is characterized by the concept of undivided, equal ownership among the co-owners. This means that each tenant in a joint tenancy owns an equal share of the property and has the same rights to the entire property, regardless of the proportion of ownership. One of the key features of joint tenancy is the right of survivorship, which means that when one owner dies, their share automatically passes to the surviving joint tenants, rather than being inherited by the deceased’s heirs.

The notion of equal ownership is crucial because it differentiates joint tenancy from other forms of ownership, such as tenancy in common, where owners may have unequal shares. In joint tenancy, all joint tenants have equal rights to the property, including the right to use it and share in any profits or benefits it generates.