California Real Estate Practice Exam

The requirement that multiple owners take title to property at the same time is a characteristic of

1. fee simple absolute

2. tenants by the entirety

3. joint tenancy

4. tenancy in common

The correct answer is: joint tenancy

Joint tenancy is a form of property ownership where multiple owners acquire the property at the same time and hold equal, undivided interests in the property. This means that each owner has equal rights to possess and enjoy the property. Compared to joint tenancy, the other options have different characteristics that do not require multiple owners to take title to the property at the same time. For example, fee simple absolute is a form of ownership where a single owner holds complete ownership and control over the property. Tenants by the entirety is a form of ownership only available to married couples, where each spouse has an equal and undivided interest in the property. Tenancy in common is a form of ownership where multiple owners have separate and distinct interests in the property. Therefore, joint tenancy is the only option that fits the requirement of multiple owners acquiring the property at the same time.