Property Ownership
In New Mexico, which form of co-ownership automatically passes a deceased owner's share to the surviving co-owner(s) without probate?
ATenancy in common
BJoint tenancy with right of survivorship✓ Correct
CTenancy by the entirety
DCommunity property
Explanation
Joint tenancy with right of survivorship allows the deceased co-owner's share to pass automatically to the surviving joint tenant(s), bypassing probate. New Mexico does not recognize tenancy by the entirety.
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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.
Fee SimpleThe highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.
State-Specific Concepts
Community Property
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