New York Law (NYLE) Practice Exam

What type of ownership must exist for a joint interest in real property to pass under a testator's will?

1. Joint tenants with right of survivorship

2. Tenants in common only

3. Tenants by the entirety only

4. Either tenants in common or tenants by the entirety

The correct answer is: Tenants in common only

In New York, when it comes to the transfer of real property through a testator's will, the nature of the ownership interest is crucial to understanding how property will be distributed upon death. A joint interest in real property, specifically when it comes to how a property interest can be inherited or passed down, requires that the owners have a specific kind of ownership arrangement. Tenants in common possess individual shares in the property, and upon the death of one tenant, their share does not automatically pass to the surviving co-owners, but rather is transferred according to the deceased's will or, if there is no will, through intestate succession. Therefore, with tenants in common, the ownership interest is part of the deceased's estate and bequeathable under a will. In contrast, joint tenants with right of survivorship have a distinctive characteristic: upon the death of one joint tenant, their interest automatically passes to the surviving joint tenants, bypassing the deceased's will. This means that the deceased's share does not become part of the estate and cannot be willed away. Similarly, tenants by the entirety, typically involving married couples, also possess the right of survivorship. The correct understanding here is that for a joint interest to be passed under a