1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Ghella [55]
3 years ago
15

Ruth and Stella were sisters. They owned a house as joint tenants with right of survivorship. Ruth sold her half interest to Roy

. Thereafter, Stella died, and Roy claimed the entire property by survivorship. Was he entitled to it?
Business
1 answer:
vekshin13 years ago
3 0

Answer: No. He was not.

Explanation:

Roy, in this case as a third party was simply a TENANT - IN - COMMON with Stella and is not entitled to the RIGHTS OF SURVIVORSHIP.

In a Joint Tenancy, there is a common ownership of property with the Rights of Survival. If Party A and B have Joint ownership and Party B dies, Party A automatically takes over the property. That is the Right of Survival.

However, third parties do not have such rights because they did not take the title at the same time or with the same instrument. When sold an interest they simply become a Tenant in Common with the remaining owner.

So even though Ruth sold her interest to Roy, upon Stella's death, the property passes in it's entirety to Ruth as Roy was just a Tenant in Common, not a joint owner.

If you need any clarification do react or comment.

You might be interested in
A. Name any two:
jasenka [17]

Answer:

1) Athena and Aries

2)Tamil/Sanskrit

3) Plato and Euclid

4) Solar energy Wind energy

5)Ruby, emerald

6)Python, Rattlesnake

7)8)9)i have no idea

Explanation:

6 0
3 years ago
Shares of Notung Cutlery Corp. closed 2010 at $75 per share. Notunghad 14.5 million shares outstanding. The assets are valued at
Kay [80]

Answer:

If you considered that outstanding shares are equal that total shares, then: market capitalization is $1.085 billions; market value added is $477.5 millions and the market-ti-book ratio is 1.78.

Explanation:

To get these numbers we calculate as follow: market capitalization = number of shares multiply by the price per share (75$ x 14.5 million); marked value added = market capitalization - (total assets - liabilities) [1.085 Bn - (1 Bn - 390 m)] ; and market-to-book ratio = market capitalization / book value (1.085bn/610m)

6 0
3 years ago
1.Danner Company expects to have a cash balance of $45,000 on January 1, 2017. Relevant monthly budget data for the first 2 mont
Nat2105 [25]

Answer:

\left[\begin{array}{ccc}&January&February\\$beginning&45000&27500\\$receipts&97000&150000\\$disbursement&-114500&-163500\\$interest&0&0\\$subtotal&27500&14000\\$minimun&20000&20000\\$Financing&&\\$beginning&0&0\\$payment/loan&0&6000\\$ending&0&6000\\&&\\$ending cash&27500&20000\\\end{array}\right]

Explanation:

On January we collect the 85,000 from revenues and the 12,00 form marketable securities.

Then, we add up each disbursement:

Materials 50000

Labor       30000

Overhead (net of depreciation) 19,500

Selling and administrative 15000

Total 114,500

Then we solve for the cash balance and get the blaance as it is higher than 20,000 we do not need financing

Then, this value is the beginning cash for February. As the ending balance is 14,000 we will take 6,000 financing to reach the bare minimum of 20,000

3 0
3 years ago
PLEASE HELP!!!!
-BARSIC- [3]

Answer:

legal contract

Explanation:

should be it or currency

6 0
3 years ago
Read 2 more answers
On January 1, ABC, Inc., issued $100,000 of 10%, 5-year bonds, for $92,280. Interest is due semiannually. When ABC records the f
Rina8888 [55]

Answer:

A. The debit to Interest Expense will be greater because the market rate is greater than the stated interest rate.

Explanation:

The effective interest rate is the market rate which is real rate of interest payment after incorporating the compounding effect. When the effective interest rate is greater than the stated the bond will sell at discount. The stated interest rate determines the amount of interest borrower will have to pay. The effective interest rate lead to higher returns than stated interest rate.

5 0
3 years ago
Other questions:
  • Andrew, a project manager in a multinational company, accepts a very challenging project from his client as he feels that the em
    12·1 answer
  • Which of the following is not a factor of production?
    7·2 answers
  • The adjustment to record supplies used during the period would​ be:
    13·1 answer
  • Microsoft Windows at one time would have been considered this type of monopoly?
    12·1 answer
  • In accounting What is revenue
    13·2 answers
  • Unemployment would cause an economy to Group of answer choices produce outside its production possibilities frontier. produce in
    8·1 answer
  • Can a naturalized citizen of the United States—that is, someone who was not born in the US, but who successfully has applied for
    12·1 answer
  • Circular 230 requires due diligence from a practitioner in all of the following circumstances except
    15·1 answer
  • Which education and qualifications are especially useful for Food Products and Processing Systems careers? Check all that apply.
    8·2 answers
  • g A monopoly may exist because Question 21 options: a) government has refused to grant a public franchise. b) one firm has the e
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!