In joint tenancy, which unity refers to each party owning an equal share?

Study for the California Real Estate Broker Exam. Utilize flashcards and multiple choice questions, each with hints and explanations. Prepare efficiently and effectively for your licensing exam!

In joint tenancy, the concept of unity that refers to each party owning an equal share is related to "interest." This means that all joint tenants have a shared interest in the property, and their shares are equal regardless of how much each party contributed to the acquisition of the property. For instance, if four people hold the property in joint tenancy, each has an equal one-fourth interest in the property.

The other unities in joint tenancy include "time," which means all parties must acquire their interests at the same time; "title," indicating they all hold the same title to the property; and "possession," which means all joint tenants have an equal right to possess and use the entire property. However, it is the unity of interest that specifically addresses the equal ownership aspect, distinguishing it as the correct answer in this context.

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