What is a common feature of joint tenancy?

Joint tenancy is a form of property ownership where two or more individuals hold title to a property together, and a hallmark characteristic of this arrangement is that each co-owner has an equal share of ownership. This means that each owner possesses the same percentage of the property, regardless of how much each may have initially contributed to its purchase. This equal ownership distinguishes joint tenancy from other forms of ownership, such as tenancy in common, where the shares can be unequal.

Additionally, joint tenancy includes the right of survivorship, meaning that when one owner dies, their share automatically transfers to the surviving co-owners rather than passing through probate. This feature further emphasizes the equal and undivided nature of the ownership in joint tenancy.

The other options presented do not accurately reflect characteristics of joint tenancy. Separate ownership responsibilities imply that each owner could act independently regarding their portion, which contradicts the unified nature of joint tenancy. Leasing rights to non-owners and rental rights for guests do not pertain to the principles of joint tenancy but rather touch on aspects of property usage and tenant rights, which are not defining features of how ownership is structured in joint tenancy.