Author Question: Describe the characteristics of tenants in common ownership. What will be an ideal ... (Read 78 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?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

For a complete list of videos, visit our video library