Rationale: Joint tenancy with survivorship allows co-owners to automatically inherit the deceased owner's share, effectively eliminating the need for probate. This streamlines the transfer of property upon death, ensuring a swift transition of ownership.
Option A is incorrect as joint tenancy primarily pertains to real property, not personal possessions. Option B is wrong because a corporation cannot hold property in joint tenancy; it requires individual owners. Option C is misleading; while surviving tenants do acquire the property, any existing liens may still attach unless resolved prior to transfer.
