Victor owns a property in Virginia in fee simple absolute. He wants to ensure that after his death, the property passes directly to his daughter without going through probate. Which ownership arrangement would BEST accomplish this goal?
Correct Answer
B) Victor should add his daughter to the deed as a joint tenant with right of survivorship.
Adding his daughter to the deed as a joint tenant with right of survivorship (JTWROS) will allow the property to pass automatically to the daughter upon Victor's death by operation of law, completely bypassing probate. Virginia recognizes JTWROS, and upon Victor's death, the daughter — as the surviving joint tenant — would become the sole owner without any court involvement required.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Condominium ownership involves owning a unit of airspace within a multi-unit building plus an undivided interest in the common elements shared with other unit owners. Each unit is separately taxed and financed.
In a cooperative (co-op), the building is owned by a corporation, and residents purchase shares of stock in the corporation that entitle them to a proprietary lease on a specific unit. Residents are shareholders, not property owners.
Fee simple absolute is the highest and most complete form of property ownership, giving the owner unrestricted rights to use, possess, enjoy, and dispose of the property. It is of unlimited duration and fully inheritable.
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