Husbands and wives who own a checking or savings account together would most likely want to set up the account with
A)tenancy in common.
B)a payable on death designation.
C)joint tenancy.
D)periodic tenancy.

Question

Quizplus · Accepted Answer

Joint tenancy is the most common form of property ownership between husband and wife. This type of ownership allows both parties equal rights and access to the account, and in the event of one spouse's death, their share automatically transfers to the surviving spouse without going through probate. Tenancy in common and periodic tenancy don't offer the same automatic transfer of ownership, and payable on death designations are typically used for individual accounts rather than joint accounts.

Husbands and Wives Who Own a Checking or Savings Account