A Maryland real estate licensee is working with a buyer who wants to purchase a property with a business partner. The buyer asks the licensee to explain the difference between joint tenancy and tenancy in common in Maryland. Which of the following statements accurately distinguishes the two forms of ownership under Maryland law?
Correct Answer
A) Joint tenancy requires equal shares and express survivorship language; tenancy in common allows unequal shares and has no survivorship right
Under Maryland law, joint tenancy requires the four unities (time, title, interest, and possession), which includes equal shares, and must be expressly created with survivorship language in the deed. Tenancy in common, by contrast, is the default form of co-ownership in Maryland, allows co-tenants to hold unequal shares, and carries no right of survivorship — each co-tenant's interest passes to their heirs upon death.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
Tenancy by the entirety is a form of co-ownership available only to married couples that includes the right of survivorship and protection from individual creditors. Neither spouse can unilaterally sell or encumber the property.
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