Forms of Joint Ownership This type of joint ownership can exist only between husband and wife. Tenancy by the entirety Because this type of ownership is subject to the right of survivorship, the Joint tenancy interest of a decedent passes directly to his or her spouse. In this type of Tenancy in common joint ownership, the tenancy can be severed only by mutual agreement, Community property divorce, or conveyance by both spouses to a third party. This type of joint ownership may consist of any number of persons who are not necessarily related to one another. Because this type of ownership is subject to the right of survivorship, the interest of a decedent passes directly to the other joint owner or owners. In this type of joint ownership, each joint tenant can unilaterally sever the tenancy. This type of joint ownership is a form of marital ownership found primarily in Southwestern states and consists of all property acquired by the effort of either or both spouses during marriage while they reside in a community property state. Any property (including wages, commissions, and so on) acquired while living in a community property state is automatically owned equally by both spouses, even if only one spouse was directly involved in acquiring the property. Property acquired before marriage, by gift, or by inheritance can be maintained as the acquiring spouse's separate property. In addition, each spouse can leave his or her half of the community property to whomever he or she chooses, which means that this type of ownership is not subject to the right of survivorship. This type of joint ownership is not subject to the right of survivorship. Each co-owner can leave his or her share to whomever he or she desires. The decedent's will controls the disposition of the decedent's partial interest in the asset. This form of joint ownership can exist in unequal shares. For example, a property owned by three co-owners could be divided unevenly such that their respective shares are 60%, 30%, and 10% of the property. The right of survivorship means that the decedent's financial interest passes directly to the other joint owner or owners. Under the right of survivorship, the decedent's financial interest is the financial claims of the decedent's creditors, heirs, or personal representatives. Which of the following forms of joint ownership are subject to the right of survivorship? Check all that apply. O Community property O Joint tenancy O Tenancy in common O Tenancy by the entirety Forms of Joint Ownership This type of joint ownership can exist only between husband and wife. Tenancy by the entirety Because this type of ownership is subject to the right of survivorship, the Joint tenancy interest of a decedent passes directly to his or her spouse. In this type of Tenancy in common joint ownership, the tenancy can be severed only by mutual agreement, Community property divorce, or conveyance by both spouses to a third party. This type of joint ownership may consist of any number of persons who are not necessarily related to one another. Because this type of ownership is subject to the right of survivorship, the interest of a decedent passes directly to the other joint owner or owners. In this type of joint ownership, each joint tenant can unilaterally sever the tenancy. This type of joint ownership is a form of marital ownership found primarily in Southwestern states and consists of all property acquired by the effort of either or both spouses during marriage while they reside in a community property state. Any property (including wages, commissions, and so on) acquired while living in a community property state is automatically owned equally by both spouses, even if only one spouse was directly involved in acquiring the property. Property acquired before marriage, by gift, or by inheritance can be maintained as the acquiring spouse's separate property. In addition, each spouse can leave his or her half of the community property to whomever he or she chooses, which means that this type of ownership is not subject to the right of survivorship. This type of joint ownership is not subject to the right of survivorship. Each co-owner can leave his or her share to whomever he or she desires. The decedent's will controls the disposition of the decedent's partial interest in the asset. This form of joint ownership can exist in unequal shares. For example, a property owned by three co-owners could be divided unevenly such that their respective shares are 60%, 30%, and 10% of the property. The right of survivorship means that the decedent's financial interest passes directly to the other joint owner or owners. Under the right of survivorship, the decedent's financial interest is the financial claims of the decedent's creditors, heirs, or personal representatives. Which of the following forms of joint ownership are subject to the right of survivorship? Check all that apply. O Community property O Joint tenancy O Tenancy in common O Tenancy by the entirety