A Nebraska real estate licensee is preparing a deed for two unmarried buyers, Keiko and Tomás, who are purchasing a home in Grand Island. They have not specified how they want to hold title. Under Nebraska law, what form of co-ownership will be presumed if the deed is silent on the matter?
Correct Answer
A) Tenancy in common with equal undivided interests
Nebraska follows the common law presumption that a conveyance to two or more persons creates a tenancy in common unless the deed expressly states that a joint tenancy is intended. To create a joint tenancy in Nebraska, the deed must contain clear language expressing the intent to create a joint tenancy with the right of survivorship. Without such language, Keiko and Tomás would hold as tenants in common with equal undivided interests.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
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.
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