Which type of ownership allows the surviving spouse to inherit the entire property?

The correct choice is Tenant by Entirety, which is a form of joint property ownership specifically designed for married couples. This type of ownership provides several key benefits, one of which is that when one spouse dies, the surviving spouse automatically inherits the entire property without the need for probate. This mechanism protects the surviving spouse from the complexities of dealing with the deceased spouse's estate, making the transfer of ownership straightforward.

In addition to this automatic inheritance feature, ownership as tenants by entirety provides legal protections against creditors, preventing either spouse from unilaterally selling or encumbering the property without the consent of the other. Such characteristics are uniquely suited to married couples, emphasizing mutual ownership and the joint nature of the marital relationship.

Understanding the nature of different forms of property ownership is crucial in the legal and ethical environment of business, particularly when establishing estate plans, discussing property rights, and making decisions about the transfer of assets upon death.