What are the conditions known as that must be present for Joint Tenancy?

The correct choice identifies the concept of "Four Unities," which are essential for the establishment of a Joint Tenancy. In real estate, Joint Tenancy is a form of co-ownership whereby two or more individuals hold title to a property with equal rights and privileges. The "Four Unities" include Unity of Possession, Unity of Interest, Unity of Title, and Unity of Time.

Unity of Possession means that each tenant has an equal right to possess the whole property, regardless of their individual share. Unity of Interest ensures that all tenants have an equal stake in the property, with no differing shares. Unity of Title indicates that all tenants acquire their interests under the same legal document or deed. Finally, Unity of Time requires that all tenants must receive their interest in the property at the same moment.

These unities are critical as they create the right of survivorship, whereby, upon the death of one tenant, their share automatically passes to the remaining tenants rather than to heirs or beneficiaries. While the Right of Survivorship is indeed a defining feature of Joint Tenancy, the foundational requirement for creating such an arrangement rests upon the Four Unities. Thus, understanding these unities is vital for comprehending how Joint Tenancy functions in