What characteristic defines joint tenancy in property ownership?

In joint tenancy, a key characteristic is that multiple owners must take title to the property at the same time. This principle creates what is known as the "right of survivorship," where, upon the death of one joint tenant, that tenant's share automatically passes to the surviving joint tenants, rather than being inherited by the deceased's heirs. This simultaneous acquisition of ownership is fundamental to the joint tenancy arrangement, ensuring that all parties have equal rights to the property from the outset and that the interests of one owner are inherently linked with those of the others.

The timing of taking title is crucial because it distinguishes joint tenancy from other forms of ownership, such as tenants in common, where owners can acquire their interests at different times, leading to different implications for inheritance and transferability. Understanding this characteristic helps clarify the nature of ownership in real estate transactions and ensures that legal documents accurately reflect the intentions of the parties involved.