TOPIC du JOUR

 

Explanation for question number    1    2    3    4    5    6    7    8    9    10

 

  1. A deed requires a FORMAL property description.
  2. Joint tenancy has the right of survivorship, meaning when one joint tenant dies, their share goes to the surviving joint tenants (not their surviving family members), so when Ron dies, John gets his share and is the sole owner of the property.  Sole ownership is ownership in severalty.

 

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  1. A seller or grantor that signs a special warranty deed is warranting the title for the time they owned the property.
  2. A street address is an informal property description.
  3. Tenants in common do not have to have an equal interest.  Valerie could possibly own more than 50%, which would not change if Alison sold her share to Mallory.  A tenant in common can sell off their share without permission of the other owners.  Tenancy in common does not normally have the right of survivorship, so if Mallory dies, her share would probably go to her heirs.  Tenants in common do all have an equal right to possess the property, regardless of the interest that each tenant has in the property.
  4. Again, the order that things happen is important.  Since they are joint tenants, each would own 25%.  First, John sells his 25% to Abigail.  George, Thomas and James would still be joint tenants, and Abigail would be a tenant in common with the three of them.  Nothing will change when George gets married, and when George dies, his share will be divided evenly between the 2 remaining joint tenants.  Therefore, Thomas and James would be joint tenants with 37.5% each, and Abigail would be a tenant in common with 25%.
  5. Since Fred and Ethel bought the property BEFORE they were married, if the deed does not specify the form of ownership, it will be assumed that they are tenants in common.  That would not change just because they got married.
  6. Joint tenancy has the right of survivorship, meaning if a joint tenant dies, their share goes to the surviving OWNERS of the property.  This means that Barney can NOT will his share of the property to someone else.
  7. Vincent could probably get ownership of the fenced off area through adverse possession.  The possession of the land has to be exclusive, meaning that it benefits the same PROPERTY, but through “tacking,” there could be more than one owner of the property that benefits from the adverse possession.
  8. “All of the following are incorrect EXCEPT,” means which one is correct.  In a tenancy in common, the owners do NOT have to have an equal interest (i.e. one owner could own a larger percentage than the others).  Also, a tenant can sell off their share with or without permission.  Tenancy in common does not normally have the right of survivorship, so when a tenant in common dies, their share would go to their heirs, not the surviving owners of the property.  Finally, if a deed does not say otherwise and there is more than one owner (except in some cases with a married couple), it will be assumed that they are tenants in common.

 

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