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 is a form of property ownership where two or more individuals hold equal shares, and upon the death of one owner, their share automatically transfers to the surviving owner without going through probate. This arrangement provides the desired outcome of ensuring complete ownership for the survivor.

A (tenants in common.) YOUR ANSWER

Tenants in common own property together but do not have the right of survivorship. If one tenant in common dies, their share of the property goes to their heirs rather than automatically to the surviving tenant. This does not meet the requirement that the surviving individual should inherit the entire property.

B (joint tenants.) CORRECT

Joint tenancy includes the right of survivorship, meaning that when one owner passes away, their share is automatically transferred to the surviving owner. This arrangement effectively allows the remaining owner to have full ownership of the property upon the death of the other, fulfilling the original intent of the two unmarried persons.

C (severalty.) YOUR ANSWER

Owning property in severalty means one individual holds full ownership and control over the property, with no co-owners involved. While this offers complete control, it does not suit the scenario of two unmarried persons wanting to share ownership with survivorship rights, as it does not involve both parties.

D (tenants by the entireties.) YOUR ANSWER

Tenancy by the entireties is a form of ownership reserved for married couples, providing rights of survivorship similar to joint tenancy. Since the question specifies that the individuals are unmarried, this option is not applicable to their situation.

Conclusion

Joint tenancy is the most appropriate choice for two unmarried individuals wishing to ensure that upon the death of one, the other inherits the entire property. This ownership structure guarantees the right of survivorship, allowing for a seamless transfer of property rights and maintaining the intent of shared ownership. Other options like tenants in common and severalty do not satisfy the survivorship requirement, while tenants by the entireties is limited to married couples.

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