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Author Question: Equitable servitudes can be used instead of covenants. Indicate whether the statement is true or ... (Read 44 times)

ss2343

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on: Jun 24, 2018
Equitable servitudes can be used instead of covenants.
  Indicate whether the statement is true or false

Question 2

Monica and Joseph Gayton, husband and wife, held title to the property at 3524 Riverside Drive, Wilmette, Illinois, as joint tenants with rights of survivorship. On February 2, 2001, Joseph transferred his interest in the property via a quitclaim deed to his wife, Monica. Louis Kovanda was a creditor of Joseph Gayton and had a judgment of 414,000, plus court costs, entered in his favor against Joseph Gayton on November 20, 2003. Joseph Gayton died on November 26, 2003. Kovanda recorded the notice of judgment against the Wilmette property on December 3, 2003. Which of the following statements is correct?
 A) Kovanda could collect his judgment against the property.
 B) Kovanda could not collect the judgment on the property because Gayton no longer had an interest in the property after November 26.
 C) Kovanda could collect the judgment because a joint tenant cannot transfer his or her interest.
 D) Kovanda could collect the judgment because Gayton was a tenant in common of the property.


ricroger

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Reply #1 on: Jun 24, 2018
Answer to Question 1

TRUE

Answer to Question 2

B


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