Albert, Baker, Charlie, and David are joint tenants. What form of ownership exists when David sells to Edith and Albert then dies?

A. Baker, Charlie, and Edith are tenants in common.
B. Baker and Charlie are joint tenants, and Edith is a tenant in common.
C. Albert's heirs, Baker, Charlie, and Edith, are tenants in common.
D. None of these describes the existing ownership.

Answer: B. Baker and Charlie are joint tenants, and Edith is a tenant in common.

Business

You might also like to view...

The theory behind _____ is that if people know their work or activities will be monitored by others, the opportunity to commit and conceal a fraud will be reduced

a. documentation b. segregation of duties c. system of authorizations d. independent checks

Business

The average monthly electric bill of a random sample of 256 residents of a city is $90 with a standard deviation of $24

a. Construct a 90% confidence interval for the mean monthly electric bills of all residents. b. Construct a 95% confidence interval for the mean monthly electric bills of all residents.

Business