What type of co-ownership allows owners to inherit their share automatically upon the death of a co-owner?

Joint tenancy is a specific type of co-ownership that includes the right of survivorship, which means that when one co-owner dies, their share automatically transfers to the surviving co-owner(s). This characteristic of joint tenancy is significant because it ensures that the deceased owner's interest does not pass through probate and is instead directly inherited by the surviving owners. This feature promotes continuity of ownership and can simplify the transfer of property rights among co-owners.

In contrast, tenancy in common does not offer the right of survivorship. In this arrangement, each owner's share can be inherited by their heirs, which may lead to complications if the surviving co-owner does not wish to remain in partnership with the deceased owner’s heirs.

Community property relates to property acquired during marriage and typically involves equal ownership, but it does not inherently include the right of survivorship.

Severalty refers to sole ownership of the property, meaning there are no co-owners involved at all, so it does not apply to this discussion of co-ownership types.

Therefore, joint tenancy stands out as the correct choice because it ensures that upon the death of a co-owner, their share directly transfers to the surviving co-owner(s) without involving probate.