California Real Estate Practice Exam

Two single persons desire to take and hold title to property, with the ability to later will their portions to whomever they desire. They should take title as:

1. Community property

2. Joint tenants

3. Severalty

4. Tenants in common

The correct answer is: Community property

The best way for two single persons to take and hold title to property while being able to will their portions to whomever they choose is as tenants in common. This form of ownership allows each party to own a distinct share of the property, which can be unequal, and grants them the ability to transfer their share through a will or other means of conveyance after their death. In community property, ownership would generally imply equal sharing and be applicable only to married couples or registered domestic partners, which does not suit the situation of two single persons wanting individual control over their respective shares. Joint tenancy includes the right of survivorship, meaning upon the death of one tenant, their interest automatically goes to the surviving tenant, which limits the ability to will their share. Severalty means ownership by a single person and does not apply here as there are two parties involved in ownership. Thus, tenants in common is indeed the most appropriate form of ownership for their desire to will their interests separately.