Humber/Ontario Real Estate Course 1 Exam Practice

Which of these is NOT a required feature for joint tenancy?

1. Interest

2. Possession

3. Duration

4. Title

5. Time

6. Concurrent

The correct answer is: Duration

In the context of joint tenancy, the essential features required for this form of ownership include the four unities: interest, possession, title, and time. Each co-owner must hold an equal share in the property and have the same rights of possession. The feature of duration is not explicitly defined as a necessary element of joint tenancy. While joint tenancy implies that the co-owners hold the property simultaneously, it does not specify a required duration for that ownership to be valid. Thus, joint tenants can hold their interests in the property indefinitely or until an event, such as the death of one joint tenant, occurs. The other listed features—interest, possession, title, and time—are integral to establishing and maintaining joint tenancy. Interest confirms that each tenant has equal rights, possession allows all tenants access to the entire property, title ensures that the property is held in their names, and time indicates that all tenants acquired their interest simultaneously.