Gold Coast Class Practice Test

Joint tenancy is the form of co-ownership that includes possession, interest, time, and survivorship. Possession means all owners share equal rights to use the whole property. Interest means each owner has an equal ownership stake. Time means the interests were created at the same moment. Survivorship means when one owner dies, their share automatically passes to the surviving owners, not to the deceased’s heirs. This automatic transfer is what distinguishes joint tenancy from other forms, where shares may be unequal, probate may be involved, or there’s no right of survivorship.