Real Estate · Property Ownership

What type of ownership gives two or more owners equal, undivided interest with the right of survivorship?

Correct answer

Joint tenancy — co-owners have equal undivided interests, and when one owner dies, their share automatically passes to the surviving joint tenant(s) rather than to heirs

  1. A Tenancy in common
  2. B Joint tenancy — co-owners have equal undivided interests, and when one owner dies, their share automatically passes to the surviving joint tenant(s) rather than to heirs
  3. C Severalty
  4. D Tenancy at will

Why this is the answer

JOINT TENANCY: Co-ownership where owners hold equal, undivided interests WITH the RIGHT OF SURVIVORSHIP — when one owner dies, their interest passes automatically to the surviving joint tenant(s), bypassing probate. THE FOUR UNITIES required (PITT): Possession (equal right to possess the whole); Interest (equal ownership shares); Time (acquired at the same time); Title (same deed/instrument); CONTRAST — TENANCY IN COMMON: Owners can have unequal shares, acquired at different times, with NO right of survivorship (a deceased owner's share passes to their heirs/estate); SEVERALTY: Ownership by one person alone; TENANCY BY THE ENTIRETY: A form for married couples in some states (survivorship plus additional protections); the right of survivorship is the defining feature of joint tenancy and a heavily tested concept on the national real estate exam.
Source: Real Estate National — Property Ownership, Joint Tenancy

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