In tenants in common, what occurs to the interest of a deceased person?

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Prepare for the Nova Scotia Real Estate Exam. Study with flashcards and multiple-choice questions, each with hints and explanations. Get ready to succeed!

In a tenants in common arrangement, when one co-owner passes away, their interest in the property does not automatically transfer to the surviving co-owners. Instead, it becomes part of the deceased's estate. This means that the deceased's share is subject to distribution according to their will or, if there is no will, according to the laws of intestacy, which determine how assets are allocated among heirs.

This characteristic of tenants in common distinguishes it from joint tenancy, where the right of survivorship allows the deceased's interest to automatically pass to the surviving co-owners. Understanding this principle is crucial in real estate practice, particularly when considering estate planning, inheritance, and property management among multiple owners.

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