Final answer:
The creation of joint tenancy requires the conveyance of four unities: Time, Title, Interest, and Unity of Possession. These unities ensure that all tenants hold equal shares and rights to the entire property simultaneously, via the same document, with undivided interests. The correct option is 4.
Step-by-step explanation:
The creation of joint tenancy requires the conveyance of four unities. These are (1) Time, (2) Title, (3) Interest, and (4) Unity of Possession. Each of these unities has a specific meaning in the context of property law:
- Time: The interests of the joint tenants must be acquired at the same moment.
- Title: The joint tenants must acquire their interests through the same transaction or document, such as a deed.
- Interest: The joint tenants must have equal undivided shares and identical rights in the property.
- Unity of Possession: This means that all joint tenants have an equal right to occupy the entire property.
These unities ensure that each tenant's share of the property is equal and undivided.
The concept of joint tenancy is developed to reflect a principle of fairness in property ownership akin to the Principle of Justice in acquisition and transfer, ensuring all parties have an equal stake and right in the property.
This property right includes the ability to enter into contracts with other parties using your property, which is a fundamental aspect of property ownership. The correct option is 4.