Purchase a course multi-pack for yourself or a friend and save up to 50%!
5-COURSE MULTI-PACK $180
10-COURSE MULTI-PACK $300
Accelerated 1-year bachelor's program
Question 1
John conveys Blackacre to "Jim and Tim." The presumption is that Jim and Tim are...
Correct Any conveyance of property to two or more people who are not husband and wife will be presumed to be a tenancy-in-common unless there is clear intent to the contrary by the grantor. Therefore A is the correct answer.
Incorrect! Any conveyance of property to two or more people who are not husband and wife will be presumed to be a tenancy-in-common unless there is clear intent to the contrary by the grantor. Therefore A is the correct answer.
Correct
Incorrect!
Correct
Incorrect!
Correct
Incorrect!
Question 2
Sam conveys Cheersacre "40% to Rebecca, 30% to Norm and 30% to Cliff". A few years later, Cliff dies. Who now owns Cheersacre?
Correct
Incorrect!
Correct
Incorrect!
Correct
Incorrect!
Correct A tenant-in-common does not have a "right of survivorship" in the property. This means that when one of the tenants-in-common dies, his or her share does not automatically pass to the other tenant. Instead, the decedent's share passes with the rest of his estate to his heirs. Choice 3 is wrong because Sam gave away all his interest in Cheersacre and did not retain a future interest for himself or his heirs and so, D is the correct answer.
Incorrect! A tenant-in-common does not have a "right of survivorship" in the property. This means that when one of the tenants-in-common dies, his or her share does not automatically pass to the other tenant. Instead, the decedent's share passes with the rest of his estate to his heirs. Choice 3 is wrong because Sam gave away all his interest in Cheersacre and did not retain a future interest for himself or his heirs and so, D is the correct answer.
Question 3
Sam and Rebecca each own a one-half interest in Cheersacre as tenants-in-common. Sam sells his interest in Cheersacre to Woody without consulting Rebecca. What happens to Cheersacre?
Correct In a Tenancy-In-Common either party may sell or transfer his or her share of the property to any person, for any reason. If one of the tenants does sell or transfer his or her share, then the buyer takes the seller's place and becomes a tenant-in-common with the party who did not sell his or her share.
Incorrect! In a Tenancy-In-Common either party may sell or transfer his or her share of the property to any person, for any reason. If one of the tenants does sell or transfer his or her share, then the buyer takes the seller's place and becomes a tenant-in-common with the party who did not sell his or her share.
Correct
Incorrect!
Correct
Incorrect!
Question 4
Sam and Rebecca each own a one-half interest in Cheersacre as tenants-in-common. Sam writes a will, leaving his interest in Cheersacre to Woody. Sam dies. Woody now owns a one-half interest in Cheersacre.
Correct A tenant-in-common does not have a "right of survivorship" in the property. Sam may give his interest in the tenancy or leave it by wll, to anyone he chooses. Therefore the correct answer is true.
Incorrect! A tenant-in-common does not have a "right of survivorship" in the property. Sam may give his interest in the tenancy or leave it by wll, to anyone he chooses. Therefore the correct answer is true.