Property OwnershipIntermediateNorth Carolina Exam

In a tenancy in common, each co-owner:

AHas right of survivorship

BMust hold equal shares

CMay convey their interest independentlyCorrect

DIs protected from partition actions, in general

Why May convey their interest independently Is Correct

Answer C: May convey their interest independently

In a tenancy in common, each co-owner holds an undivided interest and may sell, mortgage, or devise their share independently. There is no right of survivorship.

Exam Tip: Property Ownership

Property ownership questions test the bundle of rights and different forms of ownership. Know the differences between joint tenancy, tenancy in common, and community property, including the right of survivorship.

Key Property Ownership Terms in This Question

Tenancy in Common

Co-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.

People Also Study

Key Terms to Know

Tenancy in Common

Co-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.

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.

Fee Simple

The highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.

Adjustable-Rate Mortgage (ARM)

A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.