Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 2 Exam with our comprehensive quiz that covers essential concepts and topics. Enhance your understanding with multiple choice questions designed to test your knowledge and boost your confidence before the exam.

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!

Practice this question and more.

In a tenancy in common arrangement, which of the following is true?

No right of survivorship exists.
Tenants must hold the same interest in the property.
The unity of time must be present.
Termination must be by court order.

The correct answer is: No right of survivorship exists.

In a tenancy in common arrangement, each tenant holds a distinct individual share of the property. This means that there is no right of survivorship, which is a key distinguishing factor between tenancy in common and joint tenancy. In a tenancy in common, when one tenant passes away, their share does not automatically transfer to the surviving tenant(s) but becomes part of their estate to be passed on according to their will or inheritance laws. This is why the correct answer is A. As for the other options: B. Tenants in common do not have to hold the same interest in the property. Each tenant can have a different share size. C. The unity of time is not a requirement for a tenancy in common. The unity of possession is what's essential, meaning each tenant has the right to possess the entire property. D. Termination of a tenancy in common does not require a court order. Tenants can often terminate the arrangement by agreement, sale of their share, or legal action if needed.