SIE practice questionmediumAccount Ownership – Joint Tenancy in Common
Which statement best describes a joint tenants in common (JTIC) account?
- AOwnership is limited to two people
- BSurviving owner receives all assets
- COnly one party can make investment decisions
- DEach owner’s share passes to their estate upon death✓ Correct answer
Explanation
Why D — Each owner’s share passes to their estate upon death
In JTIC accounts, each owner’s share goes to their estate if they die, not to the other account owners. JTWROS gives all assets to the survivor. Both can make decisions, and there’s no two-person limit.
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