What type of ownership do Julia and Gene have in their retail building?

Julia and Gene likely have joint tenancy in their retail building if they own the property with equal shares and certain rights associated with joint tenancy. This form of ownership includes the right of survivorship, meaning that if one owner passes away, their share automatically transfers to the surviving owner rather than going through probate.

Joint tenancy typically requires four unities: unity of time, unity of title, unity of interest, and unity of possession. This means both owners must acquire their interest in the property at the same time through the same deed, hold equal shares, and have equal rights to possess the entire property.

In contrast, other forms of ownership—such as tenancy by the entirety, which is generally limited to married couples and includes the right of survivorship; tenancy in common, where owners can have unequal shares and there is no right of survivorship; and tenancy in severalty, where one person owns the property entirely—do not encompass the specific traits associated with joint tenancy. Therefore, if Julia and Gene's ownership meets the requirements of joint tenancy, that would be the correct classification for their ownership of the retail building.