In Colorado, when property is held in joint tenancy, the right of survivorship means:
Why B. The surviving joint tenant(s) automatically receive the deceased's interest Is Correct
Answer B: B. The surviving joint tenant(s) automatically receive the deceased's interest
Joint tenancy includes the right of survivorship: when one joint tenant dies, their interest automatically passes to the surviving joint tenant(s) without probate. This distinguishes joint tenancy from tenancy in common, where each owner's share passes through their estate.
Exam Tip: Property Ownership
Property ownership questions test the bundle of rights and different forms of ownership. Know the differences between joint tenancy, tenancy in common, and community property, including the right of survivorship.
Key Property Ownership Terms in This Question
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 CommonCo-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.
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Key Terms to Know
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 CommonCo-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 SimpleThe highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.
Right of First RefusalA contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
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