In Virginia, which statement BEST describes the default form of co-ownership when a deed conveys property to two or more persons but does NOT specify the type of tenancy?
Correct Answer
C) Virginia presumes tenancy in common unless the deed expressly creates a joint tenancy or tenancy by the entirety.
Virginia follows the majority rule that tenancy in common is the default form of co-ownership when a deed conveys property to two or more persons without specifying the type of tenancy. To create a joint tenancy with right of survivorship, the deed must expressly state the survivorship right. Similarly, tenancy by the entirety requires both parties to be married and is often expressly stated. Without such express language, Virginia law presumes tenancy in common.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
A leasehold estate grants the right to possess and use property for a defined period of time, without conferring ownership.
A life estate is a freehold estate that grants ownership rights for the duration of someone's life.
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