chapter 4 real estate

which of the following is true of a tenancy in common

• the co-owner must be married

• the tenants share indivisible interest

• the tenants must acquire their interests at the same time

• the tenants own equal shares of the states

A tenant in common can

• sell. encumber or transfer his or her interest to an outside party without the consent of the other tenants in common

• use his or her interest in the estate to encumber the entire estate

• sell, encumber or transfer his or her interest only to the other tenants in common

• sell, encumber or transfer his or her interest only with the consent of all the other tenants in common

when a tenant in common dies, what happens to the tenants interest in the estate

• it is divided equally among the surviving tenants in common

• the surviving tenants must buy the interest from the deceased tenant's heirs or sell their interests to the heirs

• it becomes a joint tenancy

• it passes by probate to the deceased tenant's heirs

which of the following is true of a joint tenancy

• the tenants can determine the size of the share owned by each tenant

• the size of the tenants shares is determined by the amount of equity each has invested in the property

• the tenants have an equal and indivisible ownership interest

• there can be no more than two co-owners, and each has fifty percent interest

in contrast to a tenancy in common, in a joint tenancy

• there is a single title to the property

• there are many titles to the property as there are co-owners

• title is held by a corporate entity

• co-owners who are married hold separate titles

when a joint tenant dies, what happens to the tenants interest in the real estate

• it passes to the decedent's heirs, who become joint tenants

• it passes as a tenancy in common to the decedent's

• the joint tenancy terminates and becomes a tenancy in common with the decedent's heirs and the surviving tenants as co-owners

• it passes to the surviving joint tenants

if a joint tenant sells his or her interest to an outside party,

• the new owner becomes a joint tenant

• the new owner is a tenant in common

• the joint tenancy terminates and all owners become tenants in common

• the joint tenancy terminates and the owners must create a new joint tenancy to include the new owner

the most common form of co-ownership when the owners are not married is

• tenancy in common

• joint tenancy

• tenancy by entireties

• tenancy in partnership

if a co-owner in a joint tenancy or tenancy in common wants to dispose of his or her interest against the wishes of the other co-owners, the co-owner can

• sue in court for a termination of the tenancy and partition of the property

• deed the property to himself or herself as a tenancy in servality

• create a trust with himself or herself as sole beneficiary

• file a foreclosure suit to force the other owners to sell their interests.

two individuals can own a house as tenants by the entireties if

• they so elect at the time of acquiring title

• they are blood relatives

• they are married

• they incorporate