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A brokerage account is registered as tenants in common (TIC) between two unrelated adults. One of the owners dies. What happens to that owner's interest in the account?
A
The entire account must be liquidated and the proceeds sent to the surviving owner.
B
It passes automatically to the surviving co-owner outside of probate.
C
The account converts by operation of law into a joint tenants with right of survivorship registration.
D
The decedent's stated fractional share passes to the decedent's estate and is distributed through probate.