Two unmarried individuals own property with equal interests and survivorship rights. This represents:
Correct Answer
C) Joint tenancy with right of survivorship
Joint tenancy includes the right of survivorship, meaning when one owner dies, their interest automatically passes to the surviving owner(s). Tenants by entirety is only for married couples.
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Related Topics & Key Terms
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Key Terms:
Related Concepts
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.
Tenancy in common is a form of co-ownership in which two or more persons hold separate, undivided interests in property without the right of survivorship. Each owner can hold unequal shares and can independently transfer their interest.
A freehold estate conveys ownership rights, while a leasehold estate grants the right to possess and use property for a specific period without ownership.
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