Property
Joint Tenancy
Definition
A joint tenancy is a form of concurrent ownership characterized by the right of survivorship — upon the death of one joint tenant, the deceased's interest automatically passes to the surviving joint tenant(s). At common law, creation requires the four unities: time, title, interest, and possession. A joint tenancy can be severed unilaterally by one tenant conveying their interest (which converts the transferee's share to a tenancy in common), by mutual agreement, or by certain legal actions.
Example
O conveys Blackacre "to A and B as joint tenants with right of survivorship." When A dies, B automatically becomes sole owner, regardless of A's will.