Maria and her sister Elena purchased a home in Hoboken, New Jersey, taking title as tenants in common with Maria owning a 60% interest and Elena owning a 40% interest. Maria passes away without a will. What happens to Maria's 60% interest in the property?
Correct Answer
D) It passes to Maria's heirs according to New Jersey intestacy laws.
In a tenancy in common, each co-owner holds a separate, undivided fractional interest with no right of survivorship. When Maria dies, her 60% interest passes through her estate — since she died without a will, New Jersey intestacy statutes (N.J.S.A. 3B:5-1 et seq.) govern who inherits that interest. Elena retains her 40% share and the heirs inherit Maria's 60% as tenants in common with Elena.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Riparian rights concern properties bordering flowing bodies of water (rivers, streams), while littoral rights concern properties bordering non-flowing bodies of water (lakes, oceans).
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.
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