Author Question: Humberto called his friend John and asked him to come over immediately because Humberto had suffered ... (Read 71 times)

Coya19@aol.com · **on:** Jun 24, 2018

Humberto called his friend John and asked him to come over immediately because Humberto had suffered a stroke and might be dying. In their telephone conversation, Humberto advised John that he wanted to give John his gold watch. Immediately after their telephone conversation, Humberto wrote out a will that left his share in Blackacre to John. Blackacre was the marital home of Humberto and Connie, who owned the home as tenants by the entirety. Humberto died before John arrived at Blackacre. John claims the watch and a share in the home. Connie contests both matters. Decide.

Question 2

April Lopez is buying a home from Becky Tanner. The selling price is 180,000. April is putting 20,000 down, assuming Becky's 120,000 loan, and Becky is carrying April for the remaining 40,000. Which term best describes this financing arrangement?
A)A second mortgage
B)A refinancing
C)An assumption with a purchase money mortgage
D)New financing

sabina576 · **Reply #1 on:** Jun 24, 2018

Answer to Question 1

John is entitled to neither property. As to the watch, a gift requires intent and delivery. In this case, there was intent but no delivery. The home, being owned by Humberton and his wife Connie as tenants by the entirety, cannot be transferred without her permission. Connie now owns the home solely and absolutely by survivorship.

Answer to Question 2

C