Which type of ownership provides an undivided interest in the entire property with a right of survivorship?

Joint Tenancy is characterized by the provision of an undivided interest in the entire property, coupled with the right of survivorship. This means that when one owner in a joint tenancy dies, their share automatically transfers to the remaining co-owners without needing to go through probate. This right of survivorship is a crucial aspect that distinguishes joint tenancy from types of ownership like tenancy in common, where each tenant has a distinct share that can be sold, transferred, or inherited independently.

In joint tenancy, all owners must acquire their interest at the same time, through the same deed, and must all have equal shares. This legal structure fosters a strong connection among the owners, as they share equal control and responsibility over the property. The automatic transfer of ownership upon death also simplifies the process for surviving owners, reducing complications that may arise during estate settlement.

This understanding of joint tenancy is essential not only in recognizing its function in property law but also in advising clients about their ownership options based on their priorities for family matters and estate planning.