Asked by Misael Aneuris on Jun 20, 2024
Verified
Joint tenancy is the term used to describe co-ownership of property by married couples.
Joint Tenancy
A form of property ownership where two or more individuals hold equal rights over the entire property, and upon the death of one, the surviving tenant(s) receive the deceased's share by right of survivorship.
Co-ownership
The joint ownership of a property or asset by two or more parties who share the benefits and liabilities associated with it.
Married Couples
are two individuals legally wed to each other and recognized as a married unit under the law, with various shared legal rights and obligations.
- Understand the concepts of joint tenancy and how property ownership works among married couples and co-owners.
Verified Answer
JB
Jean Bajohn LouisJun 22, 2024
Final Answer :
False
Explanation :
Joint tenancy is a form of co-ownership that can apply to any co-owners, not just married couples, and includes the right of survivorship, meaning when one owner dies, their share automatically passes to the surviving co-owners.
Learning Objectives
- Understand the concepts of joint tenancy and how property ownership works among married couples and co-owners.