Two unmarried persons want to buy property in such a way that upon the death of one, the other will own the entire property. They should take title as

Rationale

They should take title as joint tenants.

Joint tenancy allows two or more individuals to hold property together, ensuring that upon the death of one tenant, the surviving tenant automatically inherits the deceased's share. This right of survivorship is the key feature that facilitates the transfer of ownership without going through probate.

A (tenants in common.) YOUR ANSWER

Tenants in common hold property jointly but do not have the right of survivorship. If one tenant dies, their share does not automatically transfer to the other tenant; instead, it passes according to their will or state law. This arrangement would not meet the requirement of ensuring that the surviving person owns the entire property upon the death of the other.

B (joint tenants.) CORRECT

Joint tenancy is the correct choice because it includes the right of survivorship, allowing the surviving tenant to automatically inherit the deceased tenant's share of the property. This arrangement is specifically designed for situations like the one described, where one tenant wants the other to fully own the property after their death.

C (severalty.) YOUR ANSWER

Ownership in severalty means that a single individual owns the property exclusively. This option does not involve sharing property with another person, so it does not fulfill the requirement of joint ownership or the right of survivorship.

D (tenants by the entireties.) YOUR ANSWER

Tenants by the entireties is a form of joint ownership available only to married couples, which means it cannot apply to two unmarried persons. While it does provide a right of survivorship, it is not relevant in this context since the individuals are not married.

Conclusion

To ensure that upon one person's death the other automatically inherits the entire property, the two unmarried persons should take title as joint tenants. This arrangement provides the essential right of survivorship, making it the ideal choice for their situation. Other options, such as tenants in common or severalty, do not offer this protection, while tenants by the entireties is not applicable due to the individuals' unmarried status.

Two unmarried persons want to buy property in such a way that upon the death of one, the other will own the entire property. They should take title as

They should take title as joint tenants.

Related Questions

Related Quizzes

How familiar were you with this question?

Report an Issue

Rate this Practice Test