Humber/Ontario Real Estate Course 1 Exam Practice

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Ahmad and Aisha buy a property together and sign the deed simultaneously. What further requirements must they meet to obtain title as joint tenants?

  1. They must have an equal interest in the property and must individually contribute one-half of the purchase price

  2. There are no other requirements for joint tenancy

  3. They must only meet one further requirement; i.e., an equal interest in the property

  4. They must also have an equal interest in the property and equal possession of that property

The correct answer is: They must also have an equal interest in the property and equal possession of that property

In joint tenancy, one of the key requirements is the "four unities": Unity of Time, Unity of Title, Unity of Interest, and Unity of Possession. In this scenario with Ahmad and Aisha buying a property together and signing the deed simultaneously, they would need to have an equal interest in the property (Unity of Interest) and equal possession of the property (Unity of Possession) to obtain title as joint tenants. Therefore, option D is the correct choice as it accurately reflects the requirements for joint tenancy ownership.

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