(Solved): There are multiple forms of joint ownership: joint tenancy, tenancy by the entirety, tenancy in com ...

There are multiple forms of joint ownership: joint tenancy, tenancy by the entirety, tenancy in common, community property Identify which form of joint ownership is described in the following scenario. This type of joint ownership is a form of marital ownership found primarily in Southwestern states and consists of all property acquired by the effort of either or both spouses during mamiage while they reside in a community property state. Any property (including wages, commissions, and so on) acquired while living in a community property state is automatically owned equally by both spouses, even if only one spouse was directly involved in acquiring the property. Property acquired before marriage, by gift, or by inheritance can be maintained as the acquiring spouse's separate property. In addition, each spouse can leave his or her half of the community property to whornever he or she chooses, which means that this type of ownership is not subject to the right of survivorship. loint tenancy Tenancy in common Community property Tenancy by the entirety The right of survivorship means that the decedent's finandal interest passes directly to the cther jaint owner or owners. Under the right of survivorship, the decedent's financial interest is the finandal claims of the decedent's creditors, heirs, or personal representatives. Which of the following forms of Joint ownesship are subject to the right of survivurship? Check all that agoly. Tenancy in common Community property Joint tenancy Tenancy by the entirety