Question
Which is co-ownership with right of survivorship? A) Community property B) All of these C) Tenancy in common D) Joint tenancy
Ask by Tucker Boone. in the United States
Feb 24,2025
Upstudy AI Solution
Tutor-Verified Answer
Answer
Joint tenancy is co-ownership with the right of survivorship.
Solution
The correct answer is:
D) Joint tenancy
**Explanation:**
- **Joint Tenancy**: This form of co-ownership includes the right of survivorship, meaning that if one owner dies, their share automatically passes to the surviving owner(s).
- **Tenancy in Common**: This does not include the right of survivorship; each owner can will their share to heirs.
- **Community Property**: This typically refers to property acquired during marriage and does not inherently include the right of survivorship.
Thus, the only option that specifically includes the right of survivorship is Joint Tenancy.
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Simplify this solution The Deep Dive
Joint tenancy is a form of co-ownership where two or more individuals hold equal shares in a property, and importantly, it includes the right of survivorship. This means that when one owner passes away, their share automatically transfers to the surviving owner(s) without the need for probate, ensuring a smooth transition of ownership. On the flip side, it's crucial to remember that joint tenants must acquire their interests at the same time and through the same document. This requirement can trip people up, especially if they're unaware of how these conditions could affect their intention for property inheritance!
