Margaret and her husband David purchase a lakefront home in Moultonborough, New Hampshire. The deed names both of them as grantees but does not specify the type of co-ownership. Under New Hampshire law, what form of ownership do Margaret and David hold?
Correct Answer
D) Tenancy by the entirety
Under New Hampshire law, when a deed conveys property to a husband and wife without specifying the type of tenancy, the default presumption is tenancy by the entirety. This form of co-ownership is exclusive to married couples and automatically includes the right of survivorship. No express survivorship language is required.
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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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