Property Ownership
Under Michigan law, a joint tenancy with right of survivorship requires which unities?
ATime, title, interest, and possession✓ Correct
BTime, title, and possession only
CInterest and possession only
DTitle and interest only
Explanation
A valid joint tenancy requires the four unities: time (acquired simultaneously), title (same deed), interest (equal shares), and possession (equal right to possess 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.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
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.
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.
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