Kevin and Lisa are joint tenants with right of survivorship on a property in Charleston, South Carolina. Kevin dies, leaving a will that devises his interest in the property to his adult son, Derek. What happens to Kevin's interest in the property?
Correct Answer
B) Lisa becomes the sole owner of the entire property by right of survivorship
The right of survivorship is the defining feature of joint tenancy and operates by law at the moment of death, superseding any contrary provisions in a will. When Kevin dies, his interest in the joint tenancy immediately and automatically vests in Lisa as the surviving joint tenant. Because the right of survivorship takes effect before the will can operate, Kevin's will has no effect on the jointly held property. Lisa becomes the sole owner of the entire property, and Derek receives nothing from this asset.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A life estate is a freehold estate that grants ownership rights for the duration of someone's life.
Real property is immovable land and anything permanently attached to it, while personal property (also called chattels) is movable.
Tenancy by the entirety is a form of co-ownership available only to married couples that includes the right of survivorship and protection from individual creditors. Neither spouse can unilaterally sell or encumber the property.
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