What happens to a co-owner's undivided interest in a tenancy in common when they die?

Prepare for the Oklahoma Broker Exam. Dive into flashcards and multiple choice questions with detailed hints and explanations. Ace your exam!

In a tenancy in common, each co-owner holds an undivided interest in the property, and upon the death of one co-owner, their share does not automatically go to the surviving co-owners. Instead, the deceased co-owner’s interest passes to their heirs or beneficiaries as dictated by their will or, if there is no will, by the laws of intestate succession in the state. This transfer of ownership occurs because a tenancy in common allows for individual ownership rights, meaning that each co-owner can designate who will inherit their share. This concept is essential to understanding how ownership interests are treated in various forms of property ownership, allowing flexibility and control over the estate of the deceased.

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