What happens to the ownership interest in a joint tenancy when one of the owners dies?
Joint Tenancy and Tenancy in Common - Ownership Interests

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Business, Social Studies
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University
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Hard
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
It is passed to the deceased's heirs.
It is divided among the remaining owners.
It is transferred to the government.
It is sold to a third party.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a characteristic of joint tenancy?
Equal and undivided interest
Interest passes to heirs
Ownership can be sold to anyone
Divisible ownership interest
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a tenancy in common, what can an owner do with their interest in the property?
They can sell or transfer it to anyone, including heirs.
They must keep it until they die.
They can only donate it to charity.
They can only transfer it to the other owners.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of ownership allows the interest to be passed to heirs upon the owner's death?
Neither joint tenancy nor tenancy in common
Both joint tenancy and tenancy in common
Tenancy in common
Joint tenancy
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is joint tenancy commonly used in business relationships?
To divide ownership equally among all employees
To ensure ownership remains within the business
To allow easy transfer to heirs
To enable quick sale of property
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