What is one of the key tenets of joint tenancy ownership?

One of the key tenets of joint tenancy ownership is that all tenants begin with equal interest. This concept is fundamental to joint tenancy, as it ensures that each co-owner has an equal share in the property. This equality extends to rights, responsibilities, and profits derived from the property.

In joint tenancy, there are notable characteristics, such as the right of survivorship, where, upon the death of one tenant, their share automatically passes to the surviving co-tenant(s), rather than being inherited. This aspect reinforces the importance of equal interests because it ensures that the relationship among co-owners remains consistent and equitable.

In contrast, other forms of ownership may allow individuals to hold unequal interests or share rights that differ among co-owners, but joint tenancy is specifically defined by the principle of equal ownership from the outset.