Property Ownership and Land Use Practice Question
Question
An escrow officer requests clarification from the broker involving tenancy in common. Which statement best describes tenancy in common? (Item 64)
Answer choices
- A. It requires the licensee to favor the other party over the licensee’s own client.
- B. It is primarily a tax rule with no effect on brokerage practice.
- C. It removes the need for written disclosure if the licensee believes the client already knows.
- D. Identify separate, inheritable ownership shares without survivorship rights.
Correct Answer
D. Identify separate, inheritable ownership shares without survivorship rights.
Explanation
The correct answer is D because tenancy in common requires candidates to identify separate, inheritable ownership shares without survivorship rights. The other options overstate the effect of custom, oral agreement, escrow, or independent salesperson action and do not reflect safe California exam practice.
Question details
- Difficulty: medium
- Domain: Property Ownership and Land Use
- Objective: tenancy in common