What are the different types of joint ownership in real estate?

The correct choice focuses on the established legal frameworks for co-ownership of real estate, specifically highlighting joint tenancy, tenancy in common, and tenancy by the entirety.

Joint tenancy refers to a type of ownership where two or more individuals hold interest in a property. A key feature of joint tenancy is the right of survivorship, which means that upon the death of one joint tenant, their share automatically transfers to the surviving joint tenant(s). This arrangement is often used by couples and close family members.

Tenancy in common is another common form of ownership, where two or more individuals own a property together, but unlike joint tenancy, there is no right of survivorship. Each party can own different percentages of the property and can transfer their share independently.

Tenancy by the entirety is a unique form of ownership available only to married couples, allowing them to hold property together as a single legal entity. Like joint tenancy, it includes the right of survivorship, meaning that when one spouse dies, the surviving spouse automatically inherits the deceased spouse's interest in the property.

The other options do not correctly identify the recognized forms of joint ownership in real estate. They use terms or categories that are either too broad or incorrect in this context, thus lacking the specificity required to