Which ownership form includes a right of survivorship and is common among married couples?

Which ownership form includes a right of survivorship and is common among married couples?

• A. Tenancy in Common
• B. Joint Tenancy
• C. Community Property
• D. Tenants by the Entirety

Answer: (B)

Survivorship means that when one owner dies, the surviving co-owners automatically inherit the deceased’s interest, without the need for probate. In a joint tenancy, ownership is held with four unities: time, title, interest, and possession. Because these unities exist, a deceased owner’s share passes directly to the remaining co-owners, not to the deceased’s heirs. This feature makes joint tenancy a common choice for married couples who want a smooth, immediate transfer of ownership when one spouse dies. Tenancy in common does not include survivorship; the deceased’s share goes to heirs or as directed by a will. Tenants by the entirety also has survivorship, but it is a form specifically for married couples in certain jurisdictions with additional protections. The emphasis in this context is on the broad, widely used survivorship arrangement, which is why joint tenancy is the best fit.

Survivorship means that when one owner dies, the surviving co-owners automatically inherit the deceased’s interest, without the need for probate. In a joint tenancy, ownership is held with four unities: time, title, interest, and possession. Because these unities exist, a deceased owner’s share passes directly to the remaining co-owners, not to the deceased’s heirs. This feature makes joint tenancy a common choice for married couples who want a smooth, immediate transfer of ownership when one spouse dies.

Tenancy in common does not include survivorship; the deceased’s share goes to heirs or as directed by a will. Tenants by the entirety also has survivorship, but it is a form specifically for married couples in certain jurisdictions with additional protections. The emphasis in this context is on the broad, widely used survivorship arrangement, which is why joint tenancy is the best fit.