What distinguishes joint tenancy from tenancy in common?

Joint tenancy is characterized by the right of survivorship, which is a key feature that differentiates it from tenancy in common. In a joint tenancy, when one co-owner dies, their interest in the property automatically passes to the surviving joint tenants, rather than being transferred to heirs or through a will. This right of survivorship provides a streamlined process for the transfer of interests in property and ensures that the surviving tenants retain the full ownership of the property without going through probate.

In contrast, tenancy in common does not include this right of survivorship. When a co-owner in a tenancy in common passes away, their share of the property is distributed according to their will or state intestacy laws, independent of the other tenants. This fundamental difference in how ownership and inheritance are handled is central to understanding the distinctions between these two forms of co-ownership.

The other options do not capture the defining characteristic of joint tenancy. For example, while it is true that tenancy in common allows for the division of profits, this alone does not distinguish it from joint tenancy. Also, the notion that tenancy in common can only exist between family members is inaccurate; such arrangements can be made between unrelated parties as well. Moreover, joint tenancy can be severed by one party