In which type of tenancy do the remaining owners own the property upon the death of one of the owners?

• A. Tenancy in Common
• B. Joint Tenancy with Right of Survivorship
• C. License
• D. Estate in severalty

Answer: (B)

The correct answer is Joint Tenancy with Right of Survivorship because this form of ownership specifically includes the right of survivorship, meaning that when one co-owner passes away, their interest in the property automatically transfers to the remaining co-owners rather than being inherited by their heirs or going into probate. This is a distinctive feature of joint tenancy that facilitates the seamless transition of ownership among the surviving owners.

In contrast, tenancy in common does not include the right of survivorship. When a tenant in common dies, their share of the property is passed on to their heirs according to their will or state inheritance laws, rather than automatically transferring to the remaining owners.

A license is a permission granted to use someone else's property, but it does not establish ownership rights.

An estate in severalty refers to ownership by a single individual, which also does not address the succession of ownership upon death in the context of multiple owners. Therefore, the concept of survival of ownership interests clearly applies to joint tenancy with right of survivorship.