Which of the following best describes the implications of rights of survivorship in joint tenancy?

The best description of the implications of rights of survivorship in joint tenancy is that it allows for an automatic transfer of ownership upon the death of a co-owner. In a joint tenancy arrangement, each owner has an equal share in the property, and a key feature of this arrangement is that when one co-owner dies, their share does not pass through probate nor to their heirs. Instead, the remaining co-owners automatically inherit the deceased's share, maintaining the joint tenancy without any disruptions. This ensures that the property remains within the existing owners and simplifies the transfer process.

The other choices present elements of property ownership but do not encapsulate the essence of rights of survivorship in joint tenancy. For example, while a will might become unnecessary due to this automatic transfer, it doesn't fully capture the direct implication of survivorship. Selling of shares can occur under joint tenancy, but each owner has restrictions based on the terms of their agreement, and it is not an inherent right tied to the concept of survivorship. Finally, requiring all owners to sell together contradicts the flexibility often provided in joint tenancy and does not represent the automatic nature of ownership transfer that occurs upon a co-owner's death.