What is the effect of joint tenancy on inheritance?

In the context of joint tenancy, the correct answer emphasizes the nature of ownership shared by joint tenants. Joint tenancy includes the right of survivorship, which means that when one joint tenant dies, their interest in the property automatically passes to the surviving joint tenant(s). This transfer occurs outside of probate, which is a key feature of joint tenancy, making it an efficient and often preferred method for transferring property upon death.

This principle of survivorship is central to understanding how joint tenancy operates. The property is not divided among heirs or beneficiaries after one tenant's death; rather, it remains whole under the surviving tenant, thereby avoiding the lengthy and potentially costly probate process. It also precludes the possibility of the deceased's share being distributed according to a will or intestacy laws, since the surviving joint tenant immediately assumes full ownership of the property.

In contrast, options that suggest the property is divided among heirs or must go through probate do not reflect the reality of joint tenancy dynamics and thus illustrate misunderstandings about this form of property ownership. Furthermore, the statement that joint tenants have no rights to the property after acquisition contradicts the very essence of joint tenancy, where all tenants hold equal rights and responsibilities to the property during their lifetimes.