Which form of property ownership allows for the right of survivorship?

The correct answer is joint tenancy, which is characterized by the right of survivorship. In this form of ownership, when one joint tenant dies, their share of the property automatically passes to the surviving joint tenants rather than being transferred according to a will or the laws of intestacy. This creates a seamless transition of ownership, ensuring that the property remains within the group of joint tenants.

Joint tenancy requires the four unities: unity of time, title, interest, and possession. All joint tenants must acquire their interest in the property at the same time, through the same deed, with equal interest, and have equal rights to possession. This structure of ownership promotes a closer relationship among the owners, reinforcing the concept of survivorship.

In contrast, tenancy in common does not feature the right of survivorship; when a tenant in common passes away, their share can be passed to heirs or beneficiaries outside of the remaining co-owners. Leasehold estates are a form of ownership involving a contract between a landlord and tenant, where the tenant has the right to use the property for a specified time but does not have ownership interest. Time-share ownership allows multiple parties to share ownership or use of a property, typically for vacation purposes, but does not establish the right of