Author Question: Once a developer finishes a project, homeowners become responsible for enforcement of deed ... (Read 100 times)

kamilo84

  • Sr. Member
  • ****
  • Posts: 495
Once a developer finishes a project, homeowners become responsible for enforcement of deed restrictions.
  Indicate whether the statement is true or false

Question 2

Bill purchased a house on September 3, 2007 for 445,000. On November 5, 2007, he deeded the property to William H. Smith himself and Jane D. Smith, husband and wife, not as community property and not as tenants in common, but as joint tenants with right of survivorship. What type of coowners are Bill and Jane? (They were married in October of 2007).



ebenov

  • Sr. Member
  • ****
  • Posts: 331
Answer to Question 1

TRUE

Answer to Question 2

Bill has attempted to create a joint tenancy and the language used is clear, but the unity of time is missing - a strawman transaction should have been used. In some states the strawman transaction is waived, so there would be a joint tenancy with rights of survivorship.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

Medications that are definitely not safe to take when breastfeeding include radioactive drugs, antimetabolites, some cancer (chemotherapy) agents, bromocriptine, ergotamine, methotrexate, and cyclosporine.

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

For a complete list of videos, visit our video library