What is one essential feature of joint tenancy?

The essential feature of joint tenancy is the right of survivorship. This legal concept means that when one joint tenant passes away, their share of the property automatically transfers to the remaining joint tenants rather than being passed on to heirs or through a will. This characteristic ensures that the property remains within the ownership of the surviving joint tenants, facilitating a seamless continuity of ownership.

In joint tenancy, it is also required that each tenant has an equal share in the property acquired simultaneously. This is distinct from other forms of ownership, where shares may not necessarily be equal or even transferred at the same time. The right of survivorship is a defining aspect that differentiates joint tenancy from tenancy in common, which does not include this right. Thus, the feature of survivorship is a critical element of understanding joint tenancy and its implications for property ownership and succession.