Sean decides to purchase some property in 50/50 ownership with one of the guys at work.They plan to build a vacation home on it.Sean wants to make sure that if he dies his wife and kids will get his share of the property.Sean and his friend should own the property as:

Question

Quizplus · Accepted Answer

Tenants in common have the ability to leave their share of the property to their heirs or designated beneficiaries in their will, so this is the best option to ensure that Sean's wife and kids would inherit his share of the property if he were to pass away. Joint tenancy, tenants by the entirety, tenants by the survivorship, and tenants for life and death all have limitations on the ability to transfer ownership upon death.

Sean Decides to Purchase Some Property in 50/50 Ownership with One