Tenacies Flashcards
1
Q
When may a property holder destroy a joint tenancy with rights of survivorship?
A
A joint tenant may make an inter vivos transfer of property during ones life but not at death.
2
Q
When does a joint tenancy sever in regards to a mortgage?
A
In a title theory state a mortgage severs a joint tenancy to a TIC.
In a lien theory state a mortgage does not sever a joint tenancy.
The mortgage does still exist and only the tenant who created the mortgage is held to it.
3
Q
What are the four entities for a joint tenancy?
A
Time, possession, interest, and title.
