Sandra and Joe own a hobby farm as tenants in common. They also ...

[tiffannnnyyyyyy]

Sandra and Joe own a hobby farm as tenants in common. They also own a vacation home as joint tenants. What is the difference between the tenancy in common and joint tenancy?

Question 2

NAFTA eliminated all tariffs on telephones, cellular phones, and trade in communicates equipment in 2004.
  Indicate whether the statement is true or false

[angrybirds13579]

Answer to Question 1

The primary difference between these two types of concurrent estates is that joint tenancy has rights of survivorship which means that upon the death of one of the co-owners, the deceased's interest passes to the surviving joint tenant. Under an ownership by tenancy in common, the deceased co-tenant's interest passes to her beneficiaries named in her will. Also, a tenant in common can convey his interest at any time during ownership. Under a joint tenancy, a conveyance by one of the joint tenants will destroy the rights of survivorship and create a tenancy in common.

Answer to Question 2

TRUE

[tiffannnnyyyyyy]

Thanks for the timely response, appreciate it

[nyrave]

Excellent