Frequently Asked Question
If two people own a securities account, listed as joint tenants-in-common, it means:
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.
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.
by
Peter Cherewyk
Peter Cherewyk has worked in the financial field for over 10 years. He completed his Bachelor of Commerce from the University of Alberta, and is currently working towards a Chartered Financial Analyst designation. He enjoys hockey and hiking and the opportunity to teach others.
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