Ontario Barrister and Solicitor Practice Exam

Upon the death of one joint owner, who owns the joint tenancy?

1. Automatically the estate of the deceased

2. The joint tenant, if different from the deceased

3. The impact of the death may leave beneficial ownership in the estate of the deceased

4. The government if not claimed within a year

The correct answer is: The impact of the death may leave beneficial ownership in the estate of the deceased

When two or more individuals own a property as joint tenants, they each have an equal share in the property. This means that the property cannot be divided into specific portions, and if one joint owner passes away, their share automatically goes to the surviving joint owners. Option A is incorrect because the deceased owner's estate does not inherit their share. Instead, it passes on to the remaining joint owners. Option B is incorrect because joint tenancy means that all owners have equal and undivided ownership, so if one owner passes away, their share does not go to another specific joint owner. Option D is incorrect because the government does not have any claim to the property in a joint tenancy agreement. Therefore, the correct answer is C because although the death of a joint owner does not affect the legal ownership of the property, it may impact the beneficial ownership if the remaining joint owners