Humber/Ontario Real Estate Course 1 Exam Practice

In a joint tenancy, when one of the co-owners dies, the property automatically transfers to the remaining co-owners. This is known as the right of survivorship, a key characteristic of joint tenancy. This means that the deceased co-owner's share does not form part of their estate or go to their heirs but instead passes on directly to the surviving co-owners. This process ensures that the ownership of the property remains intact and avoids the complications and delays that might arise if the deceased co-owner's share had to go through probate or be distributed according to a will.

Option B is incorrect because, in a joint tenancy, the property does not pass on to the deceased owner's heirs but rather to the surviving co-owners through the right of survivorship.

Option C is incorrect because, in a joint tenancy, the deceased co-owner’s share does not need to be distributed according to their will since it automatically transfers to the remaining co-owners.

Option D is incorrect because in a joint tenancy, there is no requirement to sell the property and divide the proceeds among the co-owners when one of them dies. Instead, the property simply passes on to the surviving co-owners by operation of law.