Chapter 3 joint tenant Flashcards
Mary and John own a piece of real property as joint tenants. Which of the following is TRUE?
(1) Mary could sever the joint tenancy without John’s knowledge.
(2) Mary and John each have an undivided interest in the property.
(3) Mary and John each have a right of survivorship.
(4) All of the above statements are true.
4
The fact that a joint tenant’s interest does not pass to a personal representative on death is referred to as:
(1) an estate in inheritance.
(2) a tenancy in common.
(3) the right of survivorship.
(4) a life estate.
3
Mary and John own a piece of real property as joint tenants. Which of the following is TRUE?
(1) Mary cannot sell or mortgage her interest without John’s consent.
(2) Mary and John must each have an undivided interest in the whole of the property.
(3) Because Mary and John are married, they were required by law to register their co-ownership as joint tenants.
(4) All of the above three statements are true.
2
Burt and Ernie owned, as joint tenants, a revenue producing property which was leased to Oscar. Ernie died leaving a Will which gave his interest in the property to Grover. Grover is now demanding one-half of the rent paid by Oscar. Burt refuses this request. Analyze the following statements.
A. The property was held in joint tenancy and therefore Burt, the survivor, owns the entire estate after Ernie’s death.
B. Ernie severed the joint tenancy by bequeathing his interest in the property to Grover. Therefore, Grover is entitled to a one-half interest in the property.
C. Burt and Grover now own the revenue producing property as tenants in common.
D. Burt and Grover now own the revenue producing property as joint tenants.
E. Grover cannot have any interest in the property because there was no interest in the property that could be disposed of by way of Ernie’s Will.
Which of the above statements are TRUE?
(1) Only B and D are true.
(2) Only B and C are true.
(3) Only A and E are true.
(4) Only A is true.
3
Which one of the following statements is FALSE?
(1) Where a husband and wife own property in joint tenancy and one of them dies, the other becomes the owner of the whole interest.
(2) Where a joint tenant transfers his interest to a third party, the third party becomes a tenant in common with the original joint tenant.
(3) Where a husband and wife own property as tenants in common and one of them dies, the other becomes the owner of the whole interest.
(4) A joint tenancy becomes a tenancy in common upon severance.
3
Which of the following situations are consistent with the existence of a joint tenancy under current British Columbia law?
A. Bert and Ernest are co-owners of Whiteacre. The front half of the property is Bert’s and the back half is owned by Ernest.
B. Joan and Anna are co-owners of Greenacre. The document transferring the property to them does not expressly state how they hold the property or what interest each owns.
C. Paul, a co-owner of Blackacre together with Peggy, transferred his interest in the property to his son and registered the transfer in the land title office. Paul’s son is now a co-owner together with Peggy.
D. Herman was a co-owner of Blueacre. When Herman died, the surviving co-owners of Blueacre automatically became its only co-owners.
(1) Only D
(2) B and D
(3) B, C and D
(4) A, B and C
1
Mr. & Mrs. Tom Jones and Ashraf Menzies have a signed contract of purchase and sale for a triplex owned by Alan Sinclair. Mr. & Mrs. Jones have agreed to pay $100,000 each and Ashraf has agreed to pay the balance of $50,000. They would like their ownership registered as a joint tenancy. Which one of the following statements is TRUE?
(1) Tom, Mrs. Jones and Ashraf cannot register their ownership as a joint tenancy because they did not each contribute the same amount of cash.
(2) If their interest is registered as a joint tenancy, Tom, Mrs. Jones and Ashraf will each own an undivided interest in the triplex.
(3) Tom and Mrs. Jones would be allowed to register their interests as a joint tenancy because they are man and wife, but Ashraf would have to be a tenant-in-common with them.
(4) Tom, Mrs. Jones and Ashraf cannot meet the four common law principles required to create a joint tenancy.
2
Mary and John own a piece of real property as joint tenants. Which of the following is TRUE?
(1) Mary could sever the joint tenancy without John’s knowledge.
(2) Mary and John each have an undivided interest in the property.
(3) Mary and John each have a right of survivorship.
(4) All of the above statements are true.
4
The fact that a joint tenant’s interest does not pass to a personal representative on death is referred to as:
(1) an estate in inheritance.
(2) a tenancy in common.
(3) the right of survivorship.
(4) a life estate.
3
Burt and Ernie owned, as joint tenants, a revenue producing property which was leased to Oscar. Ernie died leaving a Will which gave his interest in the property to Grover. Grover is now demanding one-half of the rent paid by Oscar. Burt refuses this request. Analyze the following statements.
A. The property was held in joint tenancy and therefore Burt, the survivor, owns the entire estate after Ernie’s death.
B. Ernie severed the joint tenancy by bequeathing his interest in the property to Grover. Therefore, Grover is entitled to a one-half interest in the property.
C. Burt and Grover now own the revenue producing property as tenants in common.
D. Burt and Grover now own the revenue producing property as joint tenants.
E. Grover cannot have any interest in the property because there was no interest in the property that could be disposed of by way of Ernie’s Will.
Which of the above statements are TRUE?
(1) Only B and D are true.
(2) Only B and C are true.
(3) Only A and E are true.
(4) Only A is true.
3
Which one of the following statements is FALSE?
(1) Where a husband and wife own property in joint tenancy and one of them dies, the other becomes the owner of the whole interest.
(2) Where a joint tenant transfers his interest to a third party, the third party becomes a tenant in common with the original joint tenant.
(3) Where a husband and wife own property as tenants in common and one of them dies, the other becomes the owner of the whole interest.
(4) A joint tenancy becomes a tenancy in common upon severance.
3
Which of the following situations are consistent with the existence of a joint tenancy under current British Columbia law?
A. Bert and Ernest are co-owners of Whiteacre. The front half of the property is Bert’s and the back half is owned by Ernest.
B. Joan and Anna are co-owners of Greenacre. The document transferring the property to them does not expressly state how they hold the property or what interest each owns.
C. Paul, a co-owner of Blackacre together with Peggy, transferred his interest in the property to his son and registered the transfer in the land title office. Paul’s son is now a co-owner together with Peggy.
D. Herman was a co-owner of Blueacre. When Herman died, the surviving co-owners of Blueacre automatically became its only co-owners.
(1) Only D
(2) B and D
(3) B, C and D
(4) A, B and C
1
Mr. & Mrs. Tom Jones and Ashraf Menzies have a signed contract of purchase and sale for a triplex owned by Alan Sinclair. Mr. & Mrs. Jones have agreed to pay $100,000 each and Ashraf has agreed to pay the balance of $50,000. They would like their ownership registered as a joint tenancy. Which one of the following statements is TRUE?
(1) Tom, Mrs. Jones and Ashraf cannot register their ownership as a joint tenancy because they did not each contribute the same amount of cash.
(2) If their interest is registered as a joint tenancy, Tom, Mrs. Jones and Ashraf will each own an undivided interest in the triplex.
(3) Tom and Mrs. Jones would be allowed to register their interests as a joint tenancy because they are man and wife, but Ashraf would have to be a tenant-in-common with them.
(4) Tom, Mrs. Jones and Ashraf cannot meet the four common law principles required to create a joint tenancy.
2
