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.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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Which term refers to multiple owners sharing property equally without divided interest?

Joint tenancy
Tenant sharing
Concurrent ownership
Common properties
Equal partnership
Co-tenancy arrangement

The correct answer is: Joint tenancy

Joint tenancy refers to a type of concurrent ownership where multiple owners share equal rights to the entire property. In joint tenancy, the owners have a right of survivorship, meaning that if one owner passes away, their ownership share is automatically passed on to the surviving owner(s). This is what distinguishes joint tenancy from tenancy in common, where owners can have unequal interests in the property and do not have a right of survivorship. The other options are not correct because they do not specifically refer to the concept of multiple owners sharing property equally without divided interest as in joint tenancy. Options B, D, E, and F do not accurately describe this type of ownership structure, while option C, concurrent ownership, is a broad term that encompasses various forms of shared ownership, including joint tenancy.