Final answer:
John and Lucy Mason own their property as Joint Tenants, which means they share ownership with the right of survivorship, ensuring that if one dies, the other automatically inherits the entire property.
Step-by-step explanation:
The ownership arrangement where if one owner dies, the other automatically owns the property is known as a Joint Tenancy. This type of ownership includes a right of survivorship, meaning that the surviving owner automatically inherits the deceased owner’s interest in the property. This is different from Tenants in Common, where deceased owners’ interests may be passed on to heirs or other designees. Owners in Severalty refers to when only one person owns the property exclusively, and Tenants in Community Property is a form of joint ownership specific to married couples in some states, but not all of them include the right of survivorship by default. In the case of John and Lucy Mason, they would own their property as Joint Tenants.