Ontario Mortgage Agent Practice Exam

Joint tenancy in real property ownership is a type of ownership where each owner has an individual interest in the property. This means that each owner has an equal share of ownership, unlike exclusive ownership (A) where only one party has complete ownership. Additionally, joint tenancy differs from shared ownership (B) because in shared ownership, there are no individual interests and all parties share ownership equally. Ownership by relatives (D) is not a defining characteristic of joint tenancy as it can include unrelated individuals as well. Therefore, individual interest ownership by all owners (C) accurately characterizes joint tenancy in real property ownership.