What type of property ownership allows for the right of survivorship?

Joint tenancy is a specific form of property ownership that includes the right of survivorship, which means that when one owner dies, their interest in the property automatically passes to the remaining co-owners. This feature ensures that there is no need for probate, simplifying the transfer of ownership upon death.

In joint tenancy, all owners hold equal shares and have identical rights to the property. The key characteristic that distinguishes joint tenancy from other forms of ownership is this right of survivorship, which creates a seamless transition of ownership without involving the deceased owner's heirs. This type of ownership fosters a strong legal bond between the co-owners, as their interests in the property are interdependent.

Other forms of property ownership, such as tenancy in common, do not provide this survivorship feature. In a tenancy in common, if one owner passes away, their share does not automatically transfer to the other owners but is instead passed on according to the deceased's will or state inheritance laws. Common law ownership and leasehold estate also do not include the right of survivorship, as those arrangements usually center on individual control of the property or a temporary right to occupy the property, respectively.