Alabama Real Estate Practice Exam

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What does right of survivorship in Joint Tenancy mean?

The tenants cannot sell the property
Upon one's death, the property is sold
The surviving tenants automatically take ownership of the deceased's share
The deceased's heirs inherit the property

The correct answer is: The surviving tenants automatically take ownership of the deceased's share

Right of survivorship in joint tenancy means that if one of the tenants passes away, their share of the property is automatically transferred to the surviving tenants. This option is different from the other choices because it allows for seamless transfer of ownership without the need for the property to be sold or for the deceased's heirs to inherit the property. A The tenants in joint tenancy can actually sell the property with the consent of all parties involved. B: This option is incorrect as it contradicts the main concept of right of survivorship where there is no need for the property to be sold upon one's death. D: This option is also incorrect as the deceased's heirs do not have any claim to the property in joint tenancy.