Which term describes an ownership structure where two parties share ownership without the right of survivorship?

The term that describes an ownership structure where two parties share ownership without the right of survivorship is tenancy in common. In a tenancy in common, each co-owner has an individual, undivided interest in the property, and they can transfer their share independently, including selling it or bequeathing it to heirs. This arrangement allows for greater flexibility in ownership and estate planning, as there is no right of survivorship inherent in the agreement. Therefore, when one co-owner dies, their share of the property is passed according to their will or the intestate succession laws rather than automatically transferring to the other co-owner.

This contrasts with joint tenancy, where co-owners do have the right of survivorship, meaning if one owner passes away, their share automatically transfers to the surviving co-owner(s). Since the question specifically asks for the type of ownership that lacks this right, tenancy in common is the appropriate choice. Other options such as easement in gross specify different legal concepts unrelated to property ownership structures, and shared tenancy is not a standard legal term recognized in property law.