What type of property ownership includes joint tenancy?

Joint tenancy is a specific form of co-ownership that allows two or more individuals to own property together with equal shares. A key characteristic of joint tenancy is the right of survivorship, which means that if one owner passes away, their share automatically transfers to the surviving owner(s) rather than being distributed according to a will or estate laws.

This type of ownership is designed to promote unity and provides a clear, simplified transfer of ownership upon the death of one party, thus avoiding probate. The equal shares mean that all owners have the same percentage of interest in the property, which is fundamental to the concept of joint tenancy. Therefore, option A accurately defines joint tenancy by highlighting these crucial elements: the equal shares of ownership and the important survivorship rights.