In a joint tenants arrangement, what is the significant legal feature regarding survivorship?

In a joint tenants arrangement, the significant legal feature regarding survivorship is that the interest of a deceased tenant passes directly to the surviving joint tenant(s). This principle is known as the right of survivorship and is a fundamental characteristic of joint tenancy. It means that when one joint tenant dies, their share of the property does not get transferred according to a will or to heirs, but rather seamlessly transfers to the remaining joint tenants.

This arrangement is specifically designed to ensure that the ownership in the property continues among the surviving tenants without the need for probate proceedings, thus simplifying the transfer of property and ensuring that the surviving tenants retain full ownership and control. It underscores the intention that all joint tenants have an equal and undivided interest in the property during their lifetimes, and upon death, that interest is inherited by the surviving joint tenants.

The other options do not accurately reflect the nature of joint tenancy or the implications of the right of survivorship. For instance, the notion of assets being held separately until sold runs counter to the concept of joint tenancy, where all tenants share ownership equally. Similarly, the requirement for survivors to pay taxes on the deceased's interest is not a defining characteristic of joint tenancy, nor is the inheritance of a deceased tenant's interest by