Which statement applies to both joint tenancy and tenancy by the entirety?

The statement that applies to both joint tenancy and tenancy by the entirety is that the last survivor becomes a severalty owner. In both forms of ownership, the last surviving owner retains full, individual ownership of the property upon the death of the other co-owners.

In joint tenancy, when one owner dies, their share automatically passes to the surviving owners due to the right of survivorship. When the last joint tenant passes away, the property will then belong solely to the final survivor, converting their interest in the property into a severalty ownership.

Similarly, in a tenancy by the entirety, which is a form of joint ownership specifically for married couples, the same right of survivorship applies. The final surviving spouse or partner becomes the sole owner of the property, holding it as a severalty. This hallmark feature of both ownership types emphasizes the automatic transfer of ownership upon death, highlighting the concept of survivorship built into these arrangements.

Other choices do not universally apply to both types of ownership, making this distinction essential in understanding the unique attributes of joint tenancy and tenancy by the entirety.