Idaho Real Estate Practice Exam

If two brothers buy a cabin together, how will they be vested into title, unless otherwise directed?

1. Joint tenants

2. Tenants in common

3. Life tenants

4. Community property

The correct answer is: Tenants in common

When two individuals, such as brothers in this scenario, purchase property together without specifying how they want to hold title, they will typically be vested as tenants in common. This form of co-ownership allows each brother to own a distinct share of the property, which can be equal or unequal, based on the agreement or investment of each party. Tenants in common have the right to sell their shares independently, which offers more flexibility should one brother want to sell his portion in the future. In the event of one brother's death, his share would pass to his heirs rather than the surviving brother, further underscoring the individual ownership aspect that distinguishes this arrangement from other forms of co-ownership, like joint tenancy, which typically includes the right of survivorship. Understanding the implications of this form of ownership is crucial for individuals entering into such agreements, as it affects how property interests can be transferred, inherited, or otherwise utilized.