Property Ownership
In Oregon, when multiple parties purchase property together and want to ensure equal ownership shares with the right of survivorship, they should take title as:
ATenants in common with 50/50 ownership
BJoint tenants✓ Correct
CCommunity property owners
DTenants by the entirety
Explanation
Joint tenancy includes equal shares AND the right of survivorship. If a joint tenant dies, their interest automatically passes to the surviving joint tenant(s) — not to the deceased's 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.
Community PropertyIn community property states, most property acquired during marriage is owned equally by both spouses, regardless of who paid for it.
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.
State-Specific Concepts
Community Property
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