What defines "joint tenancy" in property ownership?

"Joint tenancy" in property ownership is specifically defined by the concept of co-ownership with the right of survivorship. This means that when one joint tenant dies, their share of the property automatically passes to the surviving joint tenants, rather than being inherited by the deceased tenant's heirs. This feature of survivorship distinguishes joint tenancy from other forms of ownership, such as tenancy in common, where an owner's share can be inherited by their heirs.

The defining characteristics of joint tenancy include the four unities: unity of possession (all tenants have equal rights to the whole property), unity of interest (all tenants have equal interests in the property), unity of time (all tenants acquire their interest at the same time), and unity of title (all tenants hold their interest under the same deed or document). Because of these unities, joint tenancy is often favored for individuals who want to ensure that their property is passed directly to co-owners without going through probate.

In contrast to this concept, single ownership refers to an individual owning a property outright, which does not involve the rights or conditions associated with joint tenancy. Ownership divided among multiple families would not create survivorship rights and typically describes a different arrangement like tenancy in common. Lastly, a lease agreement does not imply