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pav-90 [236]
2 years ago
13

A property owner owned a tract of commercial property that he conveyed in joint tenancy to his twin sons as a birthday present.

Unfortunately, a few years after the conveyance, the property owner and his sons had a serious falling out over how to run the family business. The property owner no longer wished the sons to control v
Business
1 answer:
Alex17521 [72]2 years ago
3 0

The person that owns the property is : The living twin.

<h3>What is  joint tenancy ?</h3>

Joint tenancy can be defined as the process in which two or more people jointly own a property.

Hence,  the  living twin owns the property based on the fact that in joint tenancy If one of the  owner dies the property will be giving to the remaining owner which means that you  cannot give the property to another person in your will.

The complete question is:

A property owner owned a tract of commercial property that he conveyed in joint tenancy to his twin sons as a birthday present. Unfortunately, a few years after the conveyance, the property owner and his sons had a serious falling out over how to run the family business. The property owner no longer wished the sons to control valuable commercial property, and so he demanded that they return the deed with which he conveyed the property to them. The sons returned the deed, and the property owner destroyed it. A few months later, one of the twins learned that he was seriously ill and not likely to live much longer. He executed a quitclaim deed conveying "any interest I have in the commercial property conveyed to me and my brother from my father" to his daughter. The twin who conveyed the property subsequently died.

Who owns the property?

A. The living twin.

B. The property owner.

C. The living twin and the deceased twin's daughter as tenants in common.

D. The living twin and the deceased twin's daughter as joint tenants.

Learn more about joint tenancy here:brainly.com/question/12932972

#SPJ1

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