Under tenancy in common, upon the death of an owner, to whom is that owner's share passed?

Prepare for the CISI Level 3 Exam with detailed flashcards and multiple choice questions, complete with explanations and hints. Excel in your exam!

Multiple Choice

Under tenancy in common, upon the death of an owner, to whom is that owner's share passed?

Explanation:
In tenancy in common, each owner has a distinct, transferable share and there is no right of survivorship. When someone dies, their interest does not automatically go to the surviving co-owners. Instead, that deceased owner’s share becomes part of their estate and is distributed according to their will (or, if there is no will, according to the rules of intestacy). This is why the correct answer is that the share passes to the deceased’s estate as directed by the will. The surviving co-owners do not automatically inherit the deceased’s portion, and the government only takes ownership only in specific escheat circumstances, not as a standard rule.

In tenancy in common, each owner has a distinct, transferable share and there is no right of survivorship. When someone dies, their interest does not automatically go to the surviving co-owners. Instead, that deceased owner’s share becomes part of their estate and is distributed according to their will (or, if there is no will, according to the rules of intestacy). This is why the correct answer is that the share passes to the deceased’s estate as directed by the will. The surviving co-owners do not automatically inherit the deceased’s portion, and the government only takes ownership only in specific escheat circumstances, not as a standard rule.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy