Which of the following statements about tenancy in common in Kentucky is NOT correct?
Correct Answer
D) Each co-owner's interest automatically passes to the surviving co-owners upon death.
Option D is NOT correct about tenancy in common. Tenancy in common does NOT include a right of survivorship. When a tenant in common dies, their interest passes to their heirs or devisees through their estate, not automatically to the surviving co-owners. Right of survivorship is a feature of joint tenancy and tenancy by the entirety.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The bundle of rights describes the rights associated with property ownership, allowing owners to use, control, enjoy, exclude others from, and dispose of the property.
Community property is a form of ownership recognized in certain states where property acquired during marriage is considered equally owned by both spouses, regardless of who earned the money or whose name is on the title.
Condominium ownership involves owning a unit of airspace within a multi-unit building plus an undivided interest in the common elements shared with other unit owners. Each unit is separately taxed and financed.
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