Property Ownership
In Ohio, when a property owner dies intestate (without a will), their real property passes according to:
AThe wishes of the surviving spouse only
BOhio's laws of intestate succession✓ Correct
CThe county court's discretion
DThe nearest relative regardless of relationship
Explanation
When a property owner dies intestate (without a will) in Ohio, their property is distributed according to Ohio's laws of intestate succession, which establish a priority order for heirs.
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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.
Debt-to-Income Ratio (DTI)A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
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