What ownership type is defined by four unities: time, title, interest, and possession?

The correct ownership type defined by the four unities of time, title, interest, and possession is joint tenancy. This form of property ownership has specific characteristics that set it apart from other types of ownership arrangements.

In joint tenancy, all co-owners (tenants) hold equal shares of the property and have the right to use it simultaneously. The four unities are essential to the concept of joint tenancy:

1. Unity of Time: All co-owners must acquire their interest in the property at the same time.

2. Unity of Title: All co-owners must receive their title to the property from the same legal document.

3. Unity of Interest: Each co-owner must have an equal and undivided interest in the property.

4. Unity of Possession: All co-owners have equal rights to possess and use the entire property.

These unities create a distinct legal relationship among the joint tenants, resulting in the right of survivorship, which means that when one joint tenant dies, their share passes directly to the surviving joint tenants, rather than becoming part of the deceased's estate.

In contrast, other ownership types have different characteristics; for instance, tenancy in common allows for co-owners