Property Ownership
Which form of co-ownership requires all owners to have equal shares and includes a right of survivorship?
ATenancy in common
BJoint tenancy✓ Correct
CTenancy by the entirety
DCommunity property
Explanation
Joint tenancy requires the four unities (time, title, interest, and possession) and equal shares. The right of survivorship means a deceased co-owner's interest passes automatically to the surviving co-owners.
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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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