Florida Real Estate Practice Exam

In which form of co-ownership is a person's ownership inheritable?

1. Joint tenancy

2. Tenancy by the entirety

3. Tenancy in common

4. Tenancy in severalty

The correct answer is: Tenancy in common

Tenancy in common is a form of co-ownership where two or more individuals each own a share or interest in a property. Unlike joint tenancy or tenancy by the entirety, the shares in a tenancy in common are not dependent on each owner's death. This means that if one owner passes away, their share of the property can be inherited by their heirs. In joint tenancy, on the other hand, the surviving owner automatically inherits the deceased owner's share. In tenancy by the entirety, only married couples can be owners and the surviving spouse automatically inherits the deceased spouse's share. Tenancy in severalty, also known as sole ownership, is when a property is owned by only one person and thus has no co-owners to inherit the property upon their passing. Therefore, tenancy in common is the only form of co-ownership where a person's ownership can be