Which of the following is a characteristic of Joint Tenancy?

The characteristic of Joint Tenancy that is correct is the inclusion of the Right of Survivorship. This principle means that upon the death of one joint tenant, their share of the property automatically transfers to the surviving joint tenant(s) without the need for probate. This is a fundamental aspect of Joint Tenancy, distinguishing it from other forms of ownership such as Tenancy in Common, where a deceased owner's interest would pass according to their will or state law.

The Right of Survivorship ensures a seamless transition of ownership among the joint tenants, which can simplify estate planning and reduce potential legal disputes after death. This characteristic is critical for understanding how Joint Tenancy functions in real estate law.

Regarding the other options: Joint Tenancy requires that all owners hold equal shares, typically with equal contributions to the purchase; hence, unequal shares would contradict the basic structure of this form of ownership. Furthermore, all joint tenants must acquire their interests in the property simultaneously, making the ability to acquire it at different times contrary to the definition of Joint Tenancy. Lastly, the ownership arrangement is not exclusive to married couples; it can involve any individuals, thus refuting the idea that it is limited to that demographic.