Two unmarried friends purchase a lake house together. The deed specifies they are 'joint tenants with right of survivorship.' If one of the friends dies, what happens to the deceased friend's ownership interest in the property?
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A
It is inherited by the deceased friend's heirs according to their will.
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B
The state government takes ownership through escheat.
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C
It automatically transfers to the surviving friend.
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D
It must be sold at a public auction to satisfy any of the deceased's debts.