Which type of tenancy grants right of survivorship?

Joint tenancy is characterized by the right of survivorship, which means that when one tenant dies, their share of the property automatically transfers to the surviving co-tenant or co-tenants. This concept distinguishes joint tenancy from tenancy in common, where each tenant has a separate and distinct share in the property, and upon death, that share would pass according to the deceased's will or state law, rather than automatically transferring to the other co-tenants.

In joint tenancy, all parties involved have equal rights to the property and have typically taken ownership at the same time. This arrangement also requires that the tenants hold equal shares, and their interest was created by the same deed. The right of survivorship is a critical component of joint tenancy because it simplifies the transfer of ownership upon death, allowing surviving co-owners to maintain control without the need for probate.

Tenancy by the entirety, which is another form of joint ownership specifically for married couples, also contains the right of survivorship, but it has additional legal protections and implications unique to married partners. In contrast, a leasehold does not involve ownership of property but rather grants the right to use and occupy property for a specified duration under a lease agreement. Therefore, the only tenancy that explicitly grants the right of