What is the term for property owned by two or more persons, each with an undivided interest in the property?

Prepare for the Pennsylvania Title Insurance Test with interactive flashcards and multiple choice questions, each with hints and explanations. Ready yourself for the title insurance exam!

The term you're looking for, which describes property owned by two or more persons with an undivided interest, is indeed "Joint Tenancy." In a joint tenancy, each co-owner holds an equal share and has the right to use the entire property. This type of ownership includes the right of survivorship, meaning that when one owner passes away, their share automatically transfers to the surviving owners, rather than being passed on according to the deceased's will or state inheritance laws.

In comparison, "Tenants by the Entireties" refers to a specific form of joint tenancy available only to married couples, where the property is owned in a manner that cannot be severed without both spouses' consent. "Involuntary Alienation" relates to the transfer of property against the owner's will, such as through foreclosure or eminent domain, and is not associated with ownership structures. A "Trust" is an arrangement where a third party holds property for the benefit of specific individuals and does not represent ownership shared in undivided interests. Thus, joint tenancy aptly defines co-ownership with undivided interest among multiple parties.

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