What is the legal term for when two or more people hold equal, non-divided shares in property, with automatic transfer upon death?

The legal term that describes when two or more individuals hold equal, non-divided shares in property, and enjoy the right of automatic transfer upon the death of one owner, is joint tenancy. This form of ownership includes the key feature of right of survivorship, meaning that if one owner passes away, their share of the property automatically transfers to the surviving owner(s) rather than being passed through probate.

In contrast, tenancy in common allows co-owners to have unequal shares and does not provide for automatic transfer upon death; instead, a deceased owner's share is inherited according to their will or state intestacy laws. Community property refers to a marital property regime where both spouses have equal ownership of assets acquired during the marriage, typically not focusing on survivorship as a key feature. Sole ownership refers to ownership by a single individual, lacking any elements of shared property or rights upon death.

Understanding these distinctions is critical for grasping how property ownership structures influence transfer rights and responsibilities in the context of title insurance and legal property transactions.