Marcus and Diane are unmarried co-buyers purchasing a home in Wichita, Kansas. They want to ensure that if one of them dies, the other automatically inherits the deceased's share without going through probate. Which form of ownership should their deed specify?
Correct Answer
B) Joint tenancy with right of survivorship
Joint tenancy with right of survivorship is the appropriate form. Under K.S.A. 58-501, Kansas recognizes joint tenancy, and the right of survivorship allows the surviving co-owner to automatically receive the deceased co-owner's interest without probate. The deed must clearly express the intent to create a joint tenancy.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Fee simple absolute is the highest and most complete form of property ownership, giving the owner unrestricted rights to use, possess, enjoy, and dispose of the property. It is of unlimited duration and fully inheritable.
Community property is a system where property acquired during a marriage is owned equally by both spouses.
A freehold estate represents ownership of real property with an indefinite duration.
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