Humber/Ontario Real Estate Course 3 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 3 Exam. Study with challenging questions and detailed explanations to enhance your understanding. Get ready to excel in your exam!

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Joint tenancy requires which four unities?

time, interest, possession, title
title, interest, ownership, time
title, interest, possession, ownership
title, survivorship, time, possession
time, ownership, interest, possession
title, survivorship, interest, ownership

The correct answer is: time, interest, possession, title

Joint tenancy requires the four unities of time, interest, possession, and title. These unities are essential for a joint tenancy arrangement to be valid. In joint tenancy, all co-owners must receive their ownership interest at the same time (unity of time), have equal ownership interests (unity of interest), have an equal right to possess the property (unity of possession), and acquire their ownership interests through the same conveyance document (unity of title). These unities ensure that joint tenants have equal rights and interests in the property, and if any of these unities are broken, the joint tenancy may be terminated, converting it into a tenancy in common.