You and your roommate have decided to purchase a house together. If you want your share of the asset to pass on to your relatives named in your will, what type of ownership should you establish for the house?

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Quizplus · Accepted Answer

With tenancy in common, each owner has a distinct, separate share of the property, and can leave their share to whomever they choose in their will. This allows you to ensure that your share of the house goes to your chosen beneficiaries. Joint tenancy with the right of survivorship, community property, and tenancy by the entirety all have survivorship rights, which means that if one owner passes away, their share automatically goes to the other owner(s), which may not align with your wishes.

You and Your Roommate Have Decided to Purchase a House