What type of ownership involves equal shares in the property with no exceptions?

Joint tenants hold equal shares in a property under a legal arrangement that is characterized by the right of survivorship. This means that if one joint tenant passes away, their share automatically transfers to the surviving joint tenants, ensuring that ownership remains intact and stays within the group. Each joint tenant has an equal interest in the property, without any exceptions or divisions in the ownership stake.

In contrast, other forms of ownership like tenants in common can include unequal shares among owners, and tenants by the entirety is primarily applicable to married couples and includes additional protections that the other types of ownership do not. Community property is a legal concept that also pertains to married couples but treats property acquired during the marriage as jointly owned, typically regardless of how much each spouse contributed financially. Thus, the defining characteristic of joint tenancy is the equal share and the right of survivorship, setting it apart from the other types of ownership listed.