Patricia and her husband David own their home in Somerset County, New Jersey, as tenants by the entirety. David passes away. Which of the following statements BEST describes the effect on the property's ownership?
Correct Answer
B) Patricia automatically becomes the sole owner by right of survivorship, without the need for probate
Tenancy by the entirety is a form of co-ownership available only to married couples in New Jersey. It includes an automatic right of survivorship, meaning that upon the death of one spouse, the surviving spouse becomes the sole owner of the entire property by operation of law — without the need for probate proceedings. This is one of the key advantages of tenancy by the entirety in New Jersey.
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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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