What happens to the ownership of a property jointly owned by Tom and Jerry if Tom dies?

• A. Jerry now owns it completely
• B. Tom's 50% share goes to his estate
• C. Tom's 50% share goes to his spouse or civil partner
• D. Jerry must buy out Tom's 50% share from his estate

Answer: (B)

When Tom and Jerry own a property jointly but not as joint tenants, they likely own it as tenants in common. In this arrangement, each party has a distinct share of the property, which is not automatically transferred to the surviving owner upon death.

In the event of Tom's death, his 50% share does not automatically transfer to Jerry. Instead, it becomes part of Tom's estate and will be distributed according to his will or, if he died intestate (without a will), according to the laws of inheritance. Therefore, the correct understanding is that Tom's 50% share passes to his estate, placing it in the hands of the executor or administrator for distribution.

This illustrates the importance of understanding the nature of property ownership and the implications of different forms of joint ownership in estate planning.