Lesson 4: Concurrent Ownership

Question 1

Joint Tenancy

Answer 1

A joint tenancy is concurrent ownership of property in which two or more parties own a single undivided interest in property with rights of survivorship.

Question 2

Four Requirements for Joint Tenancy

Answer 2

Unity of:

1. Possession
2. Interest
3. Title
4. Time

Question 3

Tenancy in Common

Answer 3

Concurrent ownership of property in which two or more parties own an undivided share of the property without right of survivorship.