A:

A. They each have an undivided interest in the property

B. If one dies, that person's interest does not automatically pass to the other

C. They do not necessarily have equal interests in the account

D. All of the above






Correct answer: D

While the joint tenants with right of survivorship designation does imply equal shares and automatic passing of ownership to the remaining partner at death, tenants in common does not.




RELATED FAQS
  1. Does homeowners insurance cover my tenants' belongings?

    I have two houses that I use as rental properties. I want to insure the houses, but I was wondering if... Read Answer >>
  2. With death of my spouse in December 2015, can I still file jointly for 2015 like ...

    Spouse and I have always completed a joint tax return, though we haven't needed to file for years with our low income. ... Read Answer >>
  3. How are the profits split between a general partner and a limited partner in a real ...

  4. What are the three "nets" of an NNN lease?

    Learn what the three "nets" are in an NNN lease and how they affect the responsibilities of both landlord and tenant in a ... Read Answer >>
  5. Do joint ventures need an exit strategy?

    Understand why an exit strategy is important for a business partnership such as a joint venture, and learn the options partners ... Read Answer >>
  6. What are the differences between single, double and triple-net leases?

    Learn the ins and outs of net lease agreements, including the key differences between single net, double net and triple net ... Read Answer >>
Related Articles
  1. Personal Finance

    The Benefits And Pitfalls Of Joint Tenancy

    This arrangement allows beneficiaries to access your account without having to go to court.
  2. Personal Finance

    The Complete Guide To Becoming A Landlord: Landlord-Tenant Relationship

    A lease establishes the relationship of landlord and tenant and is both a conveyance of a possessory estate in real property and a contract between the parties. Through the lease, the tenant ...
  3. Personal Finance

    3 Things to Consider When Renting By the Room

    Although renting by the room can increase returns on rental property, it does come with a few caveats.
  4. Personal Finance

    The Complete Guide To Becoming A Landlord: Finding Tenants

    A challenge that most landlords face is finding reliable tenants to fill their rental properties. Ideally, a tenant will be willing and able to pay his or her rent in full and on time each month, ...
  5. Personal Finance

    How Does a Modified Gross Lease Work?

    A modified gross lease is a rental agreement where, in addition to their rent, tenants pay a share of other costs associated with the property.
  6. Managing Wealth

    How Survivorship Life Insurance Works

    Should you buy a survivorship life insurance policy?
  7. Personal Finance

    Leasing to Section 8 Tenants?

    Real estate investors and landlords: It's worthwhile to investigate the section 8 market. Learn about the pros and cons of leasing to section 8 tenants.
  8. Personal Finance

    Becoming A Landlord: More Trouble Than It's Worth?

    On the surface, being a landlord seems likes like a surefire bet, but it's usually more headache than it's worth.
  9. Retirement

    Could Being a Landlord Pay for Your Retirement?

    If you have the money to buy them and the energy to run them – or the funds to pay a good manager – rental properties can help pay for your retirement.
  10. Retirement

    Holding Titles On Real Property

    Find out how best to claim and convey ownership on your assets.
RELATED TERMS
  1. With Benefit Of Survivorship

    A form of joint tenancy ownership where property passes to the ...
  2. Tenants In Common - TIC

    The co-owners of an undivided interest in real property. Tenants ...
  3. Joint Tenants in Common - JTIC

    A type of brokerage account which is owned by at least two people ...
  4. Joint Tenants with Right of Survivorship - JTWROS

    A type of brokerage account which is owned by at least two people, ...
  5. Co-Tenancy Clause

    A common clause in retail lease contracts that allows tenants ...
  6. Emblements

    Annual crops cultivated by a tenant which are treated as the ...
Hot Definitions
  1. Diversification

    A risk management technique that mixes a wide variety of investments within a portfolio. The rationale behind this technique ...
  2. European Union - EU

    A group of European countries that participates in the world economy as one economic unit and operates under one official ...
  3. Sell-Off

    The rapid selling of securities, such as stocks, bonds and commodities. The increase in supply leads to a decline in the ...
  4. Brazil, Russia, India And China - BRIC

    An acronym for the economies of Brazil, Russia, India and China combined. It has been speculated that by 2050 these four ...
  5. Brexit

    The Brexit, an abbreviation of "British exit" that mirrors the term Grexit, refers to the possibility of Britain's withdrawal ...
  6. Underweight

    1. A situation where a portfolio does not hold a sufficient amount of a particular security when compared to the security's ...
Trading Center