What distinguishes joint tenancy from tenancy in common?

Prepare for the North Carolina Broker Reciprocal Exam. Sharpen your skills with flashcards and multiple-choice questions. Each question offers explanations to ensure clarity and understanding. Get ready to excel!

Joint tenancy is specifically characterized by the right of survivorship, which means that when one joint tenant passes away, their ownership interest automatically transfers to the remaining joint tenants, rather than being passed on to heirs or according to a will. This feature creates an unbroken chain of ownership among the surviving tenants, ensuring that the property remains within the group of owners.

In contrast, tenancy in common does not include the right of survivorship. Each tenant in common has a distinct share of the property, which can be transferred or inherited independently, meaning that when one tenant dies, their share may go to heirs or be included in their estate.

While it's true that joint tenancy and tenancy in common may involve different ownership shares, particularly in the case of tenancy in common where shares can be unequal, this option does not capture the essence of what sets the two forms of ownership apart. The same reasoning applies to the type of property involved and the necessity of a written agreement; these factors do not inherently distinguish joint tenancy from tenancy in common in the way that the right of survivorship does.

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