This tenancy has right of survivorship. Which term describes it?

This tenancy has right of survivorship. Which term describes it?

• A. Joint Tenancy
• B. Tenancy in Common
• C. Tenancy by the Entirety
• D. Community Property

Answer: (A)

The essential idea is co-ownership where a deceased owner’s share passes automatically to the remaining owners. That automatic survivorship is a hallmark of joint tenancy. It requires four unities: possession, equal ownership interest, equal time of acquisition, and identical title. When these conditions exist, the death of one owner doesn’t cause a probate transfer for that owner’s share; instead, the surviving owners receive it outright. This is the form you’d use when you want the property to stay whole for the remaining owners after someone dies. Be aware that if one owner sells or mortgages their interest, the joint tenancy is typically severed and the arrangement becomes tenancy in common for the remaining owners. Other forms of co-ownership have different rules about survivorship, but joint tenancy is the classic structure with a right of survivorship.

The essential idea is co-ownership where a deceased owner’s share passes automatically to the remaining owners. That automatic survivorship is a hallmark of joint tenancy. It requires four unities: possession, equal ownership interest, equal time of acquisition, and identical title. When these conditions exist, the death of one owner doesn’t cause a probate transfer for that owner’s share; instead, the surviving owners receive it outright.

This is the form you’d use when you want the property to stay whole for the remaining owners after someone dies. Be aware that if one owner sells or mortgages their interest, the joint tenancy is typically severed and the arrangement becomes tenancy in common for the remaining owners. Other forms of co-ownership have different rules about survivorship, but joint tenancy is the classic structure with a right of survivorship.