Property Ownership
In Oregon, a 'tenancy in common' ownership means that each co-owner:
AHas equal and undivided ownership shares only
BHolds an undivided interest that can be of unequal percentages and can be freely transferred✓ Correct
CHas an automatic right of survivorship
DMust obtain consent from all other co-owners before selling
Explanation
In a tenancy in common, each co-owner holds an undivided interest in the property, which can be equal or unequal (e.g.
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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 TenancyCo-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.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
Fee SimpleThe highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.
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