Humber/Ontario Real Estate Course 1 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 1 Exam with our comprehensive quiz. Test your understanding with multiple choice questions and detailed explanations. Build confidence and knowledge for a successful exam experience!

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If a property was purchased by a married couple, and one spouse recently passed away:

The title would automatically transfer to the surviving spouse if they owned the home as tenants in common.
The surviving spouse would become the sole owner if the property was held in joint tenancy.
The deceased's interest in the property would go to their estate regardless of the ownership structure.
The deceased's interest would transfer to the surviving spouse if the property was originally acquired under a tenancy by the entirety agreement.
Both spouses need to sign a new title agreement for the surviving spouse to gain full ownership.
The surviving spouse needs to obtain a probate order to transfer the title.

The correct answer is: The surviving spouse would become the sole owner if the property was held in joint tenancy.

If the property was held in joint tenancy by the married couple and one spouse passes away, the principle of survivorship applies. This means that the surviving spouse automatically becomes the sole owner of the property. Joint tenancy includes the right of survivorship, which ensures that the surviving joint tenant(s) will inherit the deceased joint tenant's share of the property. This is why the correct answer is that the surviving spouse would become the sole owner if the property was held in joint tenancy. On the other hand, the incorrect options are explained as follows: A. If the property was owned as tenants in common, each spouse would own a specific share of the property which would not automatically transfer to the surviving spouse. C. If the deceased's interest in the property were to go to their estate, it would depend on the ownership structure, and it may not necessarily happen regardless of the ownership structure. D. Tenancy by the entirety is a form of joint tenancy available only to married couples. If the property was originally acquired under this agreement, the surviving spouse would indeed become the sole owner, not just acquire the deceased spouse's interest. E. Both spouses signing a new title agreement would not typically be needed in this scenario, as the right