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Question 1
Oscar conveys Garbageacre to Bert and Ernie, as joint tenants. In his Will, Ernie conveys his share of Garbageacre to Big Bird. Big Bird now owns a one-half interest in Garbageacre.
Correct
Incorrect!
Correct A joint tenant has a "right of survivorship" on the co-tenant's interest in the property. This means that if one party dies, the other party automatically takes over the interest by operation of law. Thus, although Ernie could convey his interest to Big Bird while he was alive, as soon as he dies, his interest goes straight to Bert. Since a will only takes affect after death, it is ineffective and Bert now owns the whole Garbageacre. Therefore the correct answer is false.
Incorrect! A joint tenant has a "right of survivorship" on the co-tenant's interest in the property. This means that if one party dies, the other party automatically takes over the interest by operation of law. Thus, although Ernie could convey his interest to Big Bird while he was alive, as soon as he dies, his interest goes straight to Bert. Since a will only takes affect after death, it is ineffective and Bert now owns the whole Garbageacre. Therefore the correct answer is false.
Question 2
Oscar conveys a one-half interest in Garbageacre to Ernie. Two weeks later, he conveys the other one-half interest to Bert and adds the language "I intend that you should be a joint tenant with Ernie and that you should each have a right of survivorship over the other's property." Is this language effective?
Correct
Incorrect!
Correct Of the "four unities" required to form a joint tenancy, one of them is the unity of time. This means that both joint tenants must receive their interest at the same time. This did not happen in this case. Incidentally, the "unity of title" is also lacking here because the two interests must have been conveyed by different instruments if they were conveyed at different times. Therefore B is the correct answer.
Incorrect! Of the "four unities" required to form a joint tenancy, one of them is the unity of time. This means that both joint tenants must receive their interest at the same time. This did not happen in this case. Incidentally, the "unity of title" is also lacking here because the two interests must have been conveyed by different instruments if they were conveyed at different times. Therefore B is the correct answer.
Question 3
Oscar conveys Garbageacre, "60% to Bert and 40% to Ernie, as joint tenants with rights of survivorship." What is the status of Garbageacre?
Correct
Incorrect!
Correct Of the "four unities" required to form a joint tenancy, one of them is the unity of interest. This means that each joint tenant must have an equal interest in the property. In this case, there is an unequal interest, so the joint tenancy conveyance fails. When that happens, it is replaced by a tenancy-in-common.
Incorrect! Of the "four unities" required to form a joint tenancy, one of them is the unity of interest. This means that each joint tenant must have an equal interest in the property. In this case, there is an unequal interest, so the joint tenancy conveyance fails. When that happens, it is replaced by a tenancy-in-common.
Correct
Incorrect!
Correct
Incorrect!
Question 4
Superman and Wonder Woman are joint tenants in the Hall of Justice. Superman conveys his interest in the Hall of Justice to Aquaman without Wonder Woman's permission. What is the status of the Hall of Justice?
Correct
Incorrect!
Correct
Incorrect!
Correct
Incorrect!
Correct A joint tenant has the right to convey his or her interest in the property to anyone he or she wants to. However, once this is done, the joint tenancy is destroyed with respect to the share of the property that has been transferred. The new transferee takes over as a tenant-in-common with the remaining interest holders in the property. Therefore D is the correct answer.
Incorrect! A joint tenant has the right to convey his or her interest in the property to anyone he or she wants to. However, once this is done, the joint tenancy is destroyed with respect to the share of the property that has been transferred. The new transferee takes over as a tenant-in-common with the remaining interest holders in the property. Therefore D is the correct answer.
Question 5
Joker, Riddler, Penguin and Mr. Freeze own the Bat Cave as joint tenants. Mr. Freeze dies. THEN, Penguin transfers his interest in the Batcave to Archer. What is the status of Archer's ownership of the Bat Cave?
Correct This is a complicated one! When Mr. Freeze died, the rights of survivorship kicked in and so the others all then owned a one-third interest in the property. Then, when Penguin sold his interest to Archer, that broke up the joint tenancy with regard to Archer's interest. However, Archer still does get the one-third interest from Penguin, although it is now as a tenant-in-common. Therefore A is the correct answer.
Incorrect! This is a complicated one! When Mr. Freeze died, the rights of survivorship kicked in and so the others all then owned a one-third interest in the property. Then, when Penguin sold his interest to Archer, that broke up the joint tenancy with regard to Archer's interest. However, Archer still does get the one-third interest from Penguin, although it is now as a tenant-in-common. Therefore A is the correct answer.
Correct
Incorrect!
Correct
Incorrect!
Correct
Incorrect!
Question 6
Joker, Riddler, Penguin and Mr. Freeze own the Bat Cave as joint tenants. Mr. Freeze dies. THEN, Penguin transfers his interest in the Batcave to Archer. What is the status of Joker's ownership of the Bat Cave?
Correct
Incorrect!
Correct
Incorrect!
Correct As in the last question, Archer's receipt of the interest from Penguin breaks up the joint tenancy, but only as to the share that was transferred. Nothing disrupted the ownership of Joker and Riddler as joint tenants with each other. Thus, they are still joint tenants with each other on the shares that they have retained and they are both tenants-in-common with Archer since Penguin's transfer to Archer broke up the joint tenancy with respect to that interest. Therefore C is the correct answer.
Incorrect! As in the last question, Archer's receipt of the interest from Penguin breaks up the joint tenancy, but only as to the share that was transferred. Nothing disrupted the ownership of Joker and Riddler as joint tenants with each other. Thus, they are still joint tenants with each other on the shares that they have retained and they are both tenants-in-common with Archer since Penguin's transfer to Archer broke up the joint tenancy with respect to that interest. Therefore C is the correct answer.