Which type of co-ownership allows the right of survivorship?

The correct answer is joint tenancy because it is the only form of co-ownership that includes the right of survivorship. This means that when one joint tenant passes away, their share of the property automatically transfers to the remaining joint tenants, rather than becoming part of the deceased tenant's estate. This distinct characteristic is crucial because it ensures that the ownership remains within the group of surviving owners without going through probate, which can be a lengthy legal process.

In contrast, tenancy in common does not provide the right of survivorship; instead, when one tenant in common dies, their interest in the property passes according to their will or state law, and not to the other co-owners. Ownership in severalty refers to sole ownership of property by one individual, thus it does not involve co-ownership at all. Community property typically relates to married couples and denotes joint ownership of property acquired during the marriage, but it does not inherently include a right of survivorship like joint tenancy does. Thus, joint tenancy stands out as the correct choice because it specifically encompasses the concept of survivorship among co-owners.