Which of the following describes the rights of owners in a joint tenancy?

The correct choice emphasizes that in a joint tenancy, owners hold equal shares in the property, and this arrangement includes the right of survivorship. This means that if one owner passes away, their share automatically passes to the surviving joint tenants rather than going through probate. This distinct feature of joint tenancy differentiates it from other forms of ownership, such as tenancy in common, where shares do not automatically transfer to other co-owners upon death.

The equal share aspect is crucial because it ensures that each joint tenant has an equal claim to the property, which reinforces the collaborative nature of this ownership structure. All joint tenants are required to acquire their interest at the same time and through the same deed, further solidifying the equality of their rights.

Understanding this concept is important for recognizing the unique attributes of joint tenancies in real estate law, particularly how they correlate to issues of inheritance and property management among co-owners.