Property Ownership
In Maine, a property transferred to two people who are not married with equal shares and the right of survivorship is held as:
ATenancy by the entirety
BJoint tenancy✓ Correct
CTenancy in common
DCommunity property
Explanation
Joint tenancy provides right of survivorship and can be held by any two or more parties (not just spouses). Tenancy by the entirety is available only to married couples.
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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.
Community PropertyIn community property states, most property acquired during marriage is owned equally by both spouses, regardless of who paid for it.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
State-Specific Concepts
Community Property
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