Which of the following best describes the nature of a joint tenancy with rights of survivorship?

A joint tenancy with rights of survivorship is characterized by the fact that all owners have equal interest in the property. This means that each co-owner shares the same percentage of ownership and is entitled to an equal portion of any income generated from the property. Additionally, in a joint tenancy, all co-owners have the right to possess and use the entire property, indicating that the interests are not divided but rather unified.

One of the key features of a joint tenancy is the "right of survivorship," which means that when one owner dies, their share automatically passes to the surviving co-owners. This aspect emphasizes the equal and undivided nature of ownership, reinforcing the concept that all owners hold the same level of interest in the property.

In contrast, the other choices provide different scenarios that do not accurately represent the characteristics of a joint tenancy with rights of survivorship. The ability to sell without consent, the aspect of wills, and the requirement of family membership do not apply to the nature or structure of joint tenancy. Understanding these unique features is essential for navigating real estate practices and recognizing how ownership is structured in such arrangements.