JOINT TENANCY

  Mr. Smith, who owned a farm, deeded the property to his sons, "A," "B," and "C" as joint tenants. Shortly thereafter, "B" sold his interest to "W." "A" died and willed his interest to his heir, "S." Ownership of the property would be:
    A. "W" and "C" as joint tenants;     

    B. "C" and "W" as tenants in common; "C" holding 2/3 interest, "W" a 1/3 interest;
    C. Undecided until the probate of "A's" estate is concluded;
    D. "S," "W," and "C" as tenants in common, each with a 1/3 interest.

  

MUST EXAM!

 A joint tenant may sell his interest, but he cannot will it. Part of a property may be owned in joint tenancy; thus at one point in this story, "A" and "C" owned 2/3 rds of the farm in joint tenancy.

TIC

When title is held as tenants in common:
A. There is only one unity required, which is possession;     
B. A right of survivorship exists;
C. Each owner has a one-half interest in the rights of the other;
D. While a co-owner is in possession, he can be charged rent for his use of the land.

MUST EXAM!

In a tenancy in common the only unit required is possession. Right of survivorship refers to joint tenancy and all owners get to use and possess the land. ANS A