Which ownership allows property to be held with the right of survivorship?

The ownership type that allows property to be held with the right of survivorship is joint tenancy. In a joint tenancy, two or more individuals hold title to the property together, and one of the distinguishing features of this form of ownership is that when one joint tenant passes away, their share of the property automatically transfers to the surviving joint tenants. This right of survivorship serves to ensure that the property remains within the group of surviving owners rather than becoming part of the deceased owner's estate.

In contrast, a life estate grants ownership for the duration of a person's life, but it does not convey rights to the property after the individual’s death. Tenancy in common allows multiple owners to hold shares in the property, but there is no right of survivorship; upon the death of one owner, their share would be passed according to their will or state inheritance laws. Severalty entails sole ownership, so there are no co-owners and thus, no survivorship issues involved.

Joint tenancy's unique characteristic of the right of survivorship is crucial for estate planning and property transfer considerations among co-owners.