Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Ontario Real Estate Exam with our comprehensive Humber Course 2 Exam Practice quiz. Engage with multiple choice questions and detailed explanations, designed to help you excel.

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What does the term "no right of survivorship" imply in a tenancy in common arrangement?

If one tenant dies, their share goes to their estate, not the other tenants.
All tenants must agree to any sale of the property.
The property must be sold upon the death of any tenant.
All tenants must own an equal share of the property.

The correct answer is: If one tenant dies, their share goes to their estate, not the other tenants.

In a tenancy in common arrangement with the term "no right of survivorship," it implies that if one tenant dies, their share of the property goes to their estate, not to the other tenants. This means that the deceased tenant's share does not automatically transfer to the surviving tenants but instead becomes part of their estate to be distributed according to their will or the laws of intestacy. Options B, C, and D are incorrect because they do not accurately describe the implications of "no right of survivorship" in a tenancy in common. In a tenancy in common, all tenants do not necessarily need to agree to a sale of the property (option B), the property is not required to be sold upon the death of any tenant (option C), and the ownership shares do not have to be equal among the tenants (option D).