Ontario Real Estate Practice Course 1 Test – Pass the Ontario License Exam in 2026

The correct answer highlights an essential characteristic of joint tenancy: it includes a right of survivorship. This means that when one joint tenant passes away, their share of the property automatically transfers to the surviving joint tenants, rather than being passed on to the deceased's heirs or beneficiaries. This feature differentiates joint tenancy from other forms of ownership, such as tenancy in common, where the deceased’s interest would go to their heirs.

In joint tenancy, ownership is often intended to be equal among all parties involved, which aligns with the requirement that all joint tenants have equal interests in the property. However, it is important to note that joint tenancy is not limited to only having two owners; it can have multiple—more than two owners can co-own a property in this way. The right of survivorship is a crucial aspect because it simplifies the transfer of ownership upon death, making joint tenancy a popular choice for families or couples wanting to ensure that their property remains within the existing living owners.