California Real Estate Practice Exam

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Which unity is common to both joint tenants and tenants in common?

Interest
Time
Title
Possession

The correct answer is: Possession

Joint Tenants refers to a form of ownership whereby two or more individuals hold equal shares of a property, with the right of survivorship meaning that if one of the tenants dies, the others automatically inherit their share. Tenants in Common, on the other hand, refers to a form of ownership in which each individual legally owns a percentage of the property, with no right of survivorship. However, the one common element between these two forms of ownership is possession, as each individual has equal rights to occupy the property. Interest relates to the proportional ownership in the property, Time relates to the duration of the ownership, and Title refers to the legal ownership of the property. Therefore, the unity common to both joint tenants and tenants in common is possession, making option D the correct answer.