Marcus and Olivia purchase a home in Salt Lake City as joint tenants with right of survivorship. Marcus later dies without a will. What happens to Marcus's ownership interest in the property under Utah law?
Correct Answer
B) Marcus's interest is automatically extinguished and Olivia becomes the sole owner.
In a joint tenancy with right of survivorship, when one joint tenant dies, their interest is automatically extinguished and vests immediately in the surviving joint tenant(s) by operation of law. No probate is required. Under Utah law, Olivia becomes the sole owner of the property at the moment of Marcus's death, regardless of whether Marcus had a will or died intestate.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
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.
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