What type of property ownership allows for no probate proceedings upon death?

Prepare for the Missouri Title Insurance Producer Test with flashcards and multiple choice questions. Evaluate your readiness with hints and explanations provided for each question.

Joint Tenancy is a property ownership arrangement where two or more individuals hold title to the property jointly, with equal rights. One of the key features of joint tenancy is the right of survivorship. This means that when one joint tenant passes away, their interest in the property automatically transfers to the surviving joint tenant(s) without going through probate. This feature provides a straightforward transfer of property ownership and can simplify the process of inheritance for individuals involved.

In contrast, other types of ownership, such as Tenancy by the Entireties, Fee Simple Conditional, and Tenants in Common, do not inherently offer the same automatic transfer of ownership upon death without probate. For instance, in Tenants in Common, each owner's share does not automatically pass to the surviving owner upon death; rather, it becomes part of the deceased's estate, which is subject to probate. Hence, the right of survivorship is what distinguishes joint tenancy as a preferred choice for avoiding probate proceedings.

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