Which of the following statements is true about concurrent ownership?
A) The property interest is divided in joint tenancy.
B) The joint tenants can have unequal ownership of shares.
C) The tenants in common can own different shares of the resource.
D) The tenants in common can have the right of survivorship.
E) The ownership is divided such that each concurrent owner owns a specific piece of the resource.

Question

Quizplus · Accepted Answer

Joint tenancy and tenancy in common are forms of concurrent ownership. In both of these forms of ownership, the property interest is undivided, but the tenants in common can own different shares of the resource (e.g., two-thirds and one-third), whereas the joint tenants must have equal ownership shares (e.g., one-half and one-half). On the other hand, joint tenants, but not tenants in common, can have the right of survivorship.

Which of the Following Statements Is True About Concurrent Ownership