Key Property Interests Flashcards

1
Q

Fee Simple

A

% in Gross Estate: 100%

Included in Probate: Yes

Rights of Survivorship: No

Unlimited Marital Deduction: If passes to spouse

Partitionable without consent: N/A

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2
Q

Tenants in Common

A

% in Gross Estate: % owned

Included in Probate: % owned

Rights of Survivorship: No

Unlimited Marital Deduction: If passes to spouse

Partitionable without consent: Yes

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3
Q

Joint Tenancy with Rights of Survivorship (JTWROS)

A

% in GE (Spouses): 50%

% in GE (Non-spouses): % contributed

Included in Probate: No

Rights of Survivorship: Yes

Unlimited Marital Deduction: If passes to spouse

Partitionable without consent: Yes

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4
Q

Tenancy by entirety (Spouses)

A

% in GE: 50%

Included in Probate: No

Rights of Survivorship: Yes

Unlimited Marital Deduction: Yes

Partitionable without consent: No

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5
Q

Community property

A

% in GE: 50%

Included in Probate: 50%

Rights of Survivorship: No

Unlimited Marital Deduction: If passes to spouse

Partitionable without consent: No

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