Ownership

Question 0

Concurrent Ownership

Answer 0

Simultaneous by two or more people.

Question 1

Ownership in severity

Answer 1

Ownership by one person.

Any interest held by others have been “Severed”

Question 2

Joint tenancy

Answer 2

Four units of ownership
Time
Title
Interest
Possession
Plus right of survivorship
No Heirs, no heirs!!!
Used to married couple.

Question 3

What if the owner does not want to be a owner or pass along

Answer 3

One one more co-tenants can buy that other interest in the property.
The property can be sold and distribute equally.

Question 4

Tenancy in common

Answer 4

Only unity of possession
Most common type of ownership
Inherit by the Heirs
No right of survivorship!!

Question 5

A person want to to the total of the other part from a house married in

Answer 5

Joint severalty