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In joint tenancy, what happens to a deceased owner's share?

  1. It can be inherited

  2. It is divided among remaining tenants

  3. It automatically passes to the other owners

  4. It goes to the estate

The correct answer is: It automatically passes to the other owners

In joint tenancy, the principle of "right of survivorship" applies. This means that when one joint tenant passes away, their interest in the property does not go to their heirs or get redistributed among the remaining joint tenants. Instead, the deceased owner's share automatically passes to the surviving joint tenants. This feature of joint tenancy ensures a seamless transfer of ownership and provides a quick resolution to property ownership without the involvement of probate or inheritance proceedings. This distinction is crucial in real estate transactions involving joint tenancy, as it directly affects how property titles are handled upon the death of one of the owners. Understanding this concept is key for those studying for the Nevada Timeshare License and navigating the complexities of property ownership laws.