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labwork [276]
3 years ago
10

A landowner conveyed his land to his wife, son, and daughter "as joint tenants with right of survivorship." The daughter then co

nveyed her interest to a friend. The wife subsequently executed a will devising her interest to the daughter. Then the son mortgaged his interest to a lender, who promptly and properly recorded the mortgage. The wife died, then the daughter's friend died, leaving a will that bequeathed her entire estate to the daughter. The daughter and the son survived. If the jurisdiction follows the title theory, who owns what interest in the land?
Business
1 answer:
zepelin [54]3 years ago
4 0

Answer:

The daughter and the son, unless the son does not pay his debt, which result in the lender owning interest to the land.

In this case the land was owned by three tenants, and the actions of one tenant may affect only their interest on the land, not the interest of the other tenants. Therefore the brother is still owner of the land unless he doesn't pay and the lender takes possession of joint tenancy of the land with the sister (or daughter to the deceased parents).

When the daughter conveyed her interest to a friend she only severed her own interest in the land, not the other tenants'. Since the friend and the wife stated in their will that the daughter was to inherit their share in the land, when they died the daughter regained ownership of the land (at least 2/3 ownership of the land).

At the end, the daughter will own 2/3 of the land and the son (or lender if he doesn't pay) will own the other 1/3 of the land.

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Answer:

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Explanation:

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The book value of the assets is corrected with the fair value, in this case we correct the value of the patent.

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Answer:

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Actual texture is combination of how an artwork looks and how it actually feels when someone touches it. Even paintings have texture and different artists use different painting techniques to create that texture.

Implied or simulated texture means that the artist is creating a visual effect of texture.

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