Property Ownership
Which form of co-ownership includes the right of survivorship, meaning a deceased owner's share passes automatically to the surviving co-owner(s)?
ATenancy in common
BJoint tenancy✓ Correct
CTenancy by the entirety
DSeveralty
Explanation
Joint tenancy includes the right of survivorship. When one joint tenant dies, the deceased's interest automatically passes to the surviving joint tenant(s) without going through probate.
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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 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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