What condition must be met for joint tenancy to exist?

For joint tenancy to exist, one of the fundamental conditions is that the co-owners must have equal shares in the property. This is a critical characteristic of joint tenancy, distinguishing it from other forms of ownership, such as tenancy in common, where unequal shares can exist. The right to partition allows any co-owner to seek to divide the property or force a sale, and this right is inherent in joint tenancy arrangements.

In joint tenancy, there is also the principle of "survivorship," meaning if one owner passes away, their share automatically transfers to the surviving co-owners rather than being passed on through a will or estate. Therefore, the condition of right to partition and equal shares is essential for joint tenancy to be legally recognized and operational, ensuring that all parties have a balanced and equitable interest in the property.

Other options do not capture the essence of joint tenancy. The right to occupy alone does not encompass the necessary legal framework for joint tenancy. Similarly, ownership of multiple properties does not dictate joint tenancy unless those properties adhere to the equal shares characteristic. Lastly, while joint tenants may have the right to lease, it is not a requisite condition for establishing joint tenancy.