Thomas and his business partner Greta purchase a commercial building in Juneau as tenants in common, with Thomas holding a 60% interest and Greta holding a 40% interest. Thomas later dies intestate, leaving a surviving spouse, Elena. Under Alaska law, what happens to Thomas's 60% interest in the property?
Correct Answer
D) Thomas's 60% interest passes to Elena and becomes part of his probate estate, subject to Alaska intestacy laws
In a tenancy in common, each co-owner holds a distinct, separately transferable interest with NO right of survivorship. When Thomas dies intestate, his 60% interest does not pass to Greta. Instead, it passes through his probate estate according to Alaska intestacy laws (AS 13.12). Because Thomas died intestate with a surviving spouse (Elena), Alaska's intestacy statutes would govern the distribution of his 60% interest. Greta retains her 40% interest unchanged. The absence of survivorship rights is the defining distinction between tenancy in common and joint tenancy.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A leasehold estate grants the right to possess and use property for a defined period of time, without conferring ownership.
A life estate is a freehold estate that grants ownership rights for the duration of someone's life.
Real property is immovable land and anything permanently attached to it, while personal property (also called chattels) is movable.
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