Property Ownership
In Ohio, joint tenancy requires which of the four unities?
ATime, title, interest, and possession✓ Correct
BPossession, use, enjoyment, and exclusion
CTime, title, value, and location
DOwnership, control, income, and exclusion
Explanation
Joint tenancy in Ohio requires the four unities: Time (acquired at the same time), Title (same deed), Interest (equal shares), and Possession (equal right of possession).
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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.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
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.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
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