Which one of the following is a correct statement regarding tenancy in common?
A) of the four unities, only the unity of possession is required
B) the same right of survivorship exists as in joint tenancy
C) each owner has an equal interest in the property
D) upon the death of one co-owner, no probate is required

Question

Quizplus · Accepted Answer

In a tenancy in common, the only unity required is the unity of possession, meaning each tenant has an equal right to possess the whole property. The other unities (interest, time, and title) required in joint tenancies do not apply. There is no right of survivorship in a tenancy in common; instead, a tenant's interest can be passed to heirs through a will, which may require probate. Each owner can have a different percentage of interest in the property, unlike in joint tenancy where interests are equal.

Which One of the Following Is a Correct Statement Regarding