What type of ownership provides for right of survivorship?

Joint tenancy is a form of concurrent ownership in which two or more individuals hold title to the same property under the principle of equal shares. One of the defining characteristics of joint tenancy is the right of survivorship, which means that when one joint tenant passes away, their interest in the property automatically transfers to the surviving joint tenant(s) rather than to the deceased’s heirs or beneficiaries. This feature can simplify the transfer of property upon death and is a key reason why individuals may choose this type of ownership.

In contrast, tenants in common do not have the right of survivorship. Instead, each co-owner can pass their share to their heirs, leading to potential complications regarding the transfer of ownership upon death. A leasehold estate is a temporary right to occupy and use property but does not confer ownership rights, including survivorship. Fee simple is the most complete ownership interest in land but does not inherently provide for survivorship unless specifically structured, such as forming a joint tenancy. Thus, the specific structure of joint tenancy, with its intrinsic right of survivorship, makes it the correct answer.