Property Ownership

Under joint tenancy in Arkansas, when one joint tenant dies, their interest:

APasses to their heirs according to their will

BAutomatically passes to the surviving joint tenant(s) by right of survivorship✓ Correct

CIs distributed equally among all remaining joint tenants and the deceased's estate

DReverts to the state under Arkansas escheat law

Explanation

Joint tenancy includes the right of survivorship. At death, a joint tenant's interest automatically passes to the surviving joint tenant(s), bypassing probate entirely.

People Also Study

Key Terms to Know

Joint Tenancy

Co-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.

Tenancy in Common

Co-ownership where two or more people hold undivided interests that need not be equal and pass to each owner's heirs — no right of survivorship.

Fee Simple

The highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.

Deed

A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).