Which term best describes ownership by two or more persons where, on the death of one owner, the share passes to the heirs rather than surviving owners?

Which term best describes ownership by two or more persons where, on the death of one owner, the share passes to the heirs rather than surviving owners?

• A. Tenancy in Common
• B. Joint Tenancy
• C. Living Trust
• D. Real Property

Answer: (A)

Tenancy in common is the arrangement where two or more people own the property with distinct, transferable shares and no right of survivorship. Because there is no survivorship, when one owner dies, their specific share goes to their heirs or estate rather than automatically to the surviving co-owners. This means you can have unequal shares, and each owner can bequeath or transfer their portion independently. In contrast, joint tenancy includes a right of survivorship, so the deceased owner’s share would pass to the remaining owners. The other options describe different concepts: a living trust is a trust-based way of holding property, not a simple co-ownership form, and real property refers to the property itself, not the method of ownership.

Tenancy in common is the arrangement where two or more people own the property with distinct, transferable shares and no right of survivorship. Because there is no survivorship, when one owner dies, their specific share goes to their heirs or estate rather than automatically to the surviving co-owners. This means you can have unequal shares, and each owner can bequeath or transfer their portion independently. In contrast, joint tenancy includes a right of survivorship, so the deceased owner’s share would pass to the remaining owners. The other options describe different concepts: a living trust is a trust-based way of holding property, not a simple co-ownership form, and real property refers to the property itself, not the method of ownership.