Under Minnesota law, which form of co-ownership automatically includes the right of survivorship, meaning a deceased owner's interest passes directly to the surviving co-owner(s) without going through probate?
Correct Answer
A) Joint tenancy
Joint tenancy under Minnesota law includes the right of survivorship. When one joint tenant dies, that owner's interest automatically passes to the surviving joint tenant(s) by operation of law, bypassing the probate process. Minnesota Statutes § 500.19 governs joint tenancy and requires that the deed expressly state the intent to create a joint tenancy.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Joint tenancy is a form of co-ownership in which two or more persons hold equal, undivided interests in property with the right of survivorship. When one joint tenant dies, their interest automatically passes to the surviving joint tenants.
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.
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