Humber/Ontario Real Estate Course 1 Exam Practice

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What differentiates a tenant in common ownership structure from a joint tenancy?

  1. Joint tenants can sell their share independently

  2. Tenants in common can have unequal shares

  3. Joint tenants do not have survivorship rights

  4. Tenants in common cannot transfer their share through a will

  5. Tenants in common must equally divide any proceeds

  6. All parties must be present for decisions

The correct answer is: Tenants in common can have unequal shares

In a tenant in common ownership structure, unlike a joint tenancy, the owners can hold unequal shares. This means that each owner can own a specific percentage of the property, which may not be equal to the other owners' shares. This characteristic of tenants in common distinguishes it from a joint tenancy where the ownership shares must be equal among the joint tenants.

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