A person who is a joint owner of an ____ account should understand that his/her share of the assets in the account are distributed to the heirs of the deceased according to the terms of his/her will.
A)joint tenancy with right of survivorship
B)tenancy in common
C)tenancy by the entirety
D)tenancy in common and tenancy by the entirety

Question

Quizplus · Accepted Answer

In a tenancy in common, each owner has a percentage ownership interest in the account, which can be passed on to his/her heirs upon death according to his/her will. In joint tenancy with right of survivorship, ownership automatically passes to the surviving joint owner upon the death of one owner. Tenancy by the entirety is a form of joint ownership that is only available to married couples in certain states.

A Person Who Is a Joint Owner of an ____