Property OwnershipIntermediateDelaware Exam

Tenancy in common in Delaware is characterized by:

AEqual ownership shares required

BRight of survivorship

CUndivided interests that can be unequal and separately transferredCorrect

DAutomatic transfer to heirs without probate

Why Undivided interests that can be unequal and separately transferred Is Correct

Answer C: Undivided interests that can be unequal and separately transferred

Tenancy in common allows co-owners to hold unequal undivided interests in a property, and each tenant in common can sell, mortgage, or will their interest independently.

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

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.

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.

Lien

A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.

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.