Humber/Ontario Real Estate Course 1 Exam Practice

Which of the following is NOT one of the unities required for joint tenancy?

1. Interest

2. Possession

3. Title

4. Time

5. Concurrent

6. Unity

The correct answer is: Concurrent

In joint tenancy, the four unities required are unity of interest, unity of title, unity of time, and unity of possession. Unity of interest means that each tenant must have an equal share of ownership interest in the property. Unity of title means that all tenants must acquire their ownership interest at the same time and from the same source. Unity of time requires that all tenants acquire their ownership interest simultaneously. Unity of possession means that all tenants have an equal right to possess the entire property. Therefore, the correct answer is E, as "concurrent" is not one of the unities required for joint tenancy.