Property Ownership
Which form of co-ownership includes the right of survivorship?
ATenancy in common
BTenancy in severalty
CJoint tenancy✓ Correct
DTenancy by the entirety
Explanation
Joint tenancy includes the right of survivorship, meaning that when one joint tenant dies, their interest automatically passes to the surviving joint tenant(s) rather than through the deceased's estate.
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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.
Fee SimpleThe highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.
AmortizationThe gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
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