What type of ownership involves the right of each co-owner to have their share automatically pass to the other upon death?

The correct answer is joint tenancy because this form of ownership is characterized by the right of survivorship. In a joint tenancy, if one co-owner dies, their interest in the property automatically passes to the remaining co-owners, rather than being transferred based on the deceased's will or the laws of intestacy. This means that the surviving co-owners automatically take full ownership of the property without the need for probate, which is the legal process used to settle a deceased person's estate.

Joint tenancy requires four unities: unity of possession, unity of interest, unity of time, and unity of title. These requirements ensure that all co-owners have an equal share and rights to the property. This feature of automatic transfer upon death is what distinguishes joint tenancy from other forms of ownership.

In community property, for instance, ownership is typically between spouses, who each hold an equal interest during their marriage, but surviving spouses do not automatically receive the deceased spouse's interest without specific probate proceedings. Tenancy by the entirety is similar to joint tenancy but applies exclusively to married couples and also includes the right of survivorship. Severalty refers to ownership by a single individual and does not encompass the rights of co-ownership or survivorship.

Understanding joint tenancy and its