Florida Broker Practice Exam

Which of the following indicates a key feature of a joint tenancy?

1. Tenants can be unrelated

2. All must have different titles

3. Must state right of survivorship

4. Must take title as tenants in common

The correct answer is: Must state right of survivorship

A key feature of joint tenancy is the right of survivorship. This means that when one joint tenant passes away, their interest in the property automatically transfers to the remaining joint tenants, rather than becoming part of the deceased's estate. This characteristic distinguishes joint tenancy from other forms of ownership, like tenancy in common, where a deceased owner's share of the property would be inherited by their heirs. In joint tenancy, the right of survivorship ensures that the surviving joint tenants continue to hold the property together without needing to go through probate or any other legal proceedings to transfer ownership. This provision is essential for joint tenancies and emphasizes the intention of co-owners to share their interest in a property equally and automatically pass that interest upon death. The other choices provided do not accurately describe the fundamental aspects of joint tenancy. For instance, tenants can indeed be unrelated, and they must hold equal shares rather than different titles or forms of ownership. Moreover, joint tenants cannot take title as tenants in common, as that would negate the joint tenancy arrangement and eliminate the right of survivorship.