What is the main characteristic of joint tenancy?

The main characteristic of joint tenancy is the right of survivorship. This means that when one joint tenant passes away, their interest in the property automatically transfers to the surviving joint tenants, rather than being passed down to heirs or included in the deceased’s estate. This feature ensures that the property remains within the group of joint tenants, creating a unity that differentiates joint tenancy from other forms of ownership, such as tenancy in common, where there is no right of survivorship.

The right of survivorship is a critical aspect because it affects how property is distributed upon death, emphasizing the importance of the relationship between the joint tenants. This characteristic allows for a seamless transition of ownership, ensuring that the surviving tenants have uninterrupted access and control over the property.

Understanding this concept is fundamental for anyone studying property law as it impacts estate planning and the legal implications of property ownership structures.