Property Ownership
In Maine, which form of co-ownership requires all four unities — time, title, interest, and possession — to be created simultaneously?
ATenancy in common
BJoint tenancy✓ Correct
CTenancy by the entirety
DCommunity property
Explanation
Joint tenancy requires all four unities: time (acquired at the same time), title (by the same instrument), interest (equal shares), and possession (equal right to the whole property).
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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.
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
State-Specific Concepts
Community Property
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