Question

Two women own an apartment building together as joint tenants. They share equally in the expenses and profits. One day, one of the women decides to end the relationship. If she sells her interest to a man by signing and delivering a deed, which of these statements is TRUE?
A. The man and the remaining woman will be tenants in common
B. The conveyance will be invalid; the two women will remain joint tenants
C. The man will become a joint tenant with the remaining woman
D. The man will be a tenant in common wit the remaining woman as a joint tenant wit hteh leaving woman

Answer 1

Answer:

A. The man and the remaining woman will be tenants in common

Explanation:

When two or more people have ownership of common property, they are termed to be joint tenants. The ownership is shared by each of the persons. Also, they lie a joint right to all the members to either keep or dispose of the property. This is a legal agreement among the members under which they share equal rights and responsibilities.

Tenancy in common is an option that provides percentage-based ownership. This provision helps in trading the property as per the choice of any of the owners.

As per the given excerpt, the true sentence is that the man and the remaining woman are tenants in common of the property.