Property OwnershipIntermediateNorth Carolina Exam

In North Carolina, 'tenancy in common' means co-owners:

AHold equal undivided interests with right of survivorship, under standard practice

BHold undivided interests that may be unequal and without right of survivorshipCorrect

CMust be legally married to each other

DHold separate titled portions of the property

Why Hold undivided interests that may be unequal and without right of survivorship Is Correct

Answer B: Hold undivided interests that may be unequal and without right of survivorship

Tenancy in common in NC allows co-owners to hold undivided interests that may be unequal in size, with no right of survivorship; each owner may convey their share independently.

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.

Right of First Refusal

A contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.

Deed

A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).