Which of the following is NOT one of the Four Unities required for Joint Tenancy?

Prepare for the Leasing Agent License Exam with flashcards and multiple choice questions. Each question includes hints and explanations to enhance your knowledge and confidence. Ace your exam with proper preparation!

In a joint tenancy, the Four Unities required to establish this form of co-ownership are possession, interest, time, and title. Each of these elements plays a crucial role in defining the legal characteristics of joint tenancy, which includes the right of survivorship.

Possession means that all joint tenants have an equal right to possess and enjoy the entire property. Interest indicates that all joint tenants must have equal shares in the property; no tenant can have a larger interest than the others. Time signifies that all tenants must acquire their interests in the property at the same time. Title indicates that they must all hold the title to the property in the same document.

The option referring to "Individual Ownership" does not fit within these Four Unities. In fact, individual ownership contradicts the principle of joint tenancy, which emphasizes collective ownership and shared rights among co-tenants. Therefore, the correct answer highlights the distinction of joint tenancy from individual forms of property ownership.

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