Humber/Ontario Real Estate Course 2 Exam Practice

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If a client wants joint tenancy, what does this arrangement imply?

  1. Equal ownership and the right of survivorship

  2. Ownership without the right of survivorship

  3. Ownership in different proportions

  4. Temporary ownership measures

  5. Only commercial property ownership

  6. All co-owners must be related

The correct answer is: Equal ownership and the right of survivorship

Joint tenancy implies equal ownership and the right of survivorship. This means that all co-owners have an equal share in the property and in the event of one owner's death, their share automatically transfers to the surviving co-owners rather than passing through their estate. This arrangement is common between spouses and can help avoid probate and streamline the transfer of ownership. The other options are incorrect because joint tenancy does not imply ownership without the right of survivorship, ownership in different proportions, temporary ownership measures, only commercial property ownership, or that all co-owners must be related.

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