Author Question: Describe the characteristics of tenants in common ownership. What will be an ideal ... (Read 66 times)

stephzh

  • Hero Member
  • *****
  • Posts: 556
Describe the characteristics of tenants in common ownership.
 
  What will be an ideal response?

Question 2

Describe the characteristics of tenants by the entireties ownership.
 
  What will be an ideal response?



mk6555

  • Sr. Member
  • ****
  • Posts: 310
Answer to Question 1

A tenancy in common is a form of concurrent ownership that may, but is not required to have all five unities. Tenants in common do not have to be spouses, take title at the same time, from the same source, or with equal interests. Tenants in common share an equal right to possess and occupy the property. Each co-tenant has the right to individually, without the agreement of the other tenants in common, to transfer her interest by sale, gift, or devise.

Answer to Question 2

A tenancy-by-the-entirety is a form of concurrent ownership similar to a joint tenancy with the right of survivorship, but limited to married couples. It is the only form of concurrent ownership which shares all five of the unities. The most important feature is the absolute, unequivocal right of survivorship by a surviving spouse in the event of the death of the other spouse.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

mk6555

  • Sr. Member
  • ****
  • Posts: 310

 

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

For a complete list of videos, visit our video library