Property Ownership
In New Jersey, 'tenancy in common' differs from joint tenancy in that tenants in common:
AMust hold equal shares
BHave the right of survivorship
CMay hold unequal shares and each owner's interest passes to their heirs, not the surviving co-owners✓ Correct
DCannot sell their interest without all co-owners' consent
Explanation
Tenancy in common allows owners to hold unequal shares, and each owner can devise their interest by will or it passes by intestacy—there is no right of survivorship. This differs from joint tenancy, where survivors automatically inherit the deceased co-owner's share.
Related New Jersey Property Ownership Questions
- A fee simple defeasible estate in New Jersey is best described as:
- In NJ, property taxes that remain unpaid after the municipality's tax sale may result in the lienholder eventually being able to:
- A NJ condominium owner who fails to pay common area maintenance charges may be subject to:
- A property owner in New Jersey has a legal description using the 'metes and bounds' system. This system describes property by:
- An easement appurtenant benefits:
- Tenancy by the entirety in NJ is available only to:
- In New Jersey, ownership of real property by two or more persons with equal, undivided interests and right of survivorship is called:
- In New Jersey, a life estate owner (life tenant) may NOT do which of the following without the remainderman's consent?
Practice More New Jersey Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Jersey Quiz →