Chapter II

Question 0

Joint tenants with rights of survivorship

Answer 0

• Two or more tenants
• Equal interests - percentage
• On death -> survivors -> not a will
• Selling of share severs right of survivorship

Question 1

What are the types of concurrent ownership?

Answer 1

1. Joint tenants with rights of survivorship
2. Tenants in common
3. Tenants by the entirety
4. Community property

Question 2

Tenants in common

Answer 2

a. Two or more
b. The most common
c. Owners can sell
d. Unequal shares
i. Contribution based on percentage of ownership
1) Benefits
2) Expenses
e. Partition
i. Agreement
ii. Court action
iii. Can be done to buy out one of the tenants in common

Question 3

Community Property

Answer 3

a. State law
b. Applies to married couples
c. Property acquired during the marriage is owned equally
d. Separate property, not community property
i. Things acquired before marriage
Gifts, bequest, etc