Becca and Candy own 1,000 shares of stock in Dockside Dining Restaurant Corporation.On the death of ether owner, that owner's interest in the stock passes to the surviving owner.This is
A)a joint tenancy.
B)a tenancy by the entirety.
C)a tenancy in common.
D)community property.

Question

Quizplus · Accepted Answer

In joint tenancy, owners have equal shares in the property and upon the death of one owner, their share passes on to the surviving owner(s). This is the most fitting choice for the scenario as both owners have an equal share of the stock and upon the death of one owner, the surviving owner will inherit the deceased owner's share. Tenancy by entirety is only applicable to married couples, tenancy in common allows owners to have unequal shares and does not come with the right of survivorship, and community property is a form of ownership only recognized in certain states.

Becca and Candy Own 1,000 Shares of Stock in Dockside