Escrow & Title
In Rhode Island, 'tenancy in common' as a form of property ownership means each co-owner:
AMust sell their interest simultaneously with other co-owners
BHas an undivided interest in the property and can transfer it independently without the other co-owners' consent✓ Correct
CHas survivorship rights to the other co-owners' interests
DMust be a married couple
Explanation
Tenants in common each hold an undivided fractional interest in the property. They may sell, mortgage, or transfer their interest independently.
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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.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Fee SimpleThe highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.
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.
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