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
svet-max [94.6K]
3 years ago
5

Bill and Mike go in together to purchase 342 acres of land to use for hunting and family vacations. Ten years later, Bill dies a

nd Bill's wife wants to sell his half of the land. Mike informs her that, unfortunately, she has no claim to the land and that upon Bill's death, his ownership interest transferred to Mike. What type of co-ownership did Bill and Mike have?
a. condominium tenancyb. by the entireties tenancyc. in common joint tenancy
Business
1 answer:
romanna [79]3 years ago
4 0

Answer:

Joint Tenancy

Explanation:

Joint tenancy represents a legal contractual arrangement that involves two or more people who have agreed to own a single property sharing both obligations and rights equally.

The terms of join tenancy is such that no one whether the partner or an inheritor of will is able to sell the property in future without the consent of other partners. Secondly, when a partner dies joint tenancy does not transfer assets to heirs instead it is vested in the surviving partner.

It becomes that Bill did not name his wife as his beneficiary, hence Mike inherits the entire 342 acres of land after Bill's death.

You might be interested in
How important is structure/culture compared to the other primary internal considerations for a strategic plan?
ZanzabumX [31]

Explanation:

The organizational structure and culture are essential for the design of a strategic plan aligned with the organization's purpose.

What happens is that the structure and culture of an organization constitute its identity, its way of organizing itself and creating an environment designed to obtain the objectives and goals stipulated by strategic planning. So it can be said that there is no way to develop a strategic plan without considering the structure or culture, because it is through these two variables that action plans are developed and modeled according to what the company is, and what it plans to be in the future. All organizational systems must be foreseen in the planning and be developed with the same degree of importance, because together they form the organizational whole that will lead a company to be well positioned in the market, achieve continuous improvement in its processes, achieve competitive advantage in the market, etc.

7 0
3 years ago
Why is using money as a medium of exchange preferable to bartering?
Y_Kistochka [10]

Answer:

Money as a medium of exchange is more preferable because of its less cumbersome nature.

Explanation:

Money as a medium of exchange is more suitable because of its less cumbersome nature. Money was invented because of the inefficient nature of the barter system.

Money is easily stored compared to a barter system.

Money as a medium of exchange eliminates the barter system's problem of double coincidence of wants. Barter works when you trade things you own for things you want. If for example you want a bicycle and you own a goat, you have to look for someone who wants a goat and owns a bicycle willing to make an exchange, which can be quite difficult.

Money is an acceptable medium of exchange to all parties which makes it more preferable to bartering.

8 0
3 years ago
Sydney has inherited her grandmother's estate worth approximately $4.5 million. She is worried about paying taxes on the estate
weeeeeb [17]

Answer:

She pays the inheritance tax , while the estate is responsible for the estate tax.

Explanation:

Inheritance tax is a form of tax that every beneficiary of an inherited estate must pay. Regardless of the situation and location of the inherited property , inheritance tax is calculated individually for different beneficiary.

The estate in which a particular property is located is responsible for the estate tax. This is calculated based on the value of the property and paid by the estate management for all properties within the estate before rents are remitted to the landlords.

4 0
3 years ago
Read 2 more answers
$444,567 Revenue, $400,500 Expenses. Net Profit?
chubhunter [2.5K]

Answer:

44,067

Explanation:

4 0
3 years ago
Describe four areas of self-esteem discussed in the text and provide an example of each
Alex Ar [27]

Answer:

la respuesta correcta es jdjfhf

5 0
3 years ago
Read 2 more answers
Other questions:
  • Wassim Masood has been the webmaster for Woori Finance only ten days when Woori's website was flooded with access attempts. Wass
    9·1 answer
  • Accounts receivable arising from sales to customers amounted to $80,000 and $70,000 at the beginning and end of the year, respec
    13·1 answer
  • Before you started applying for college, a job recruiter offered you a full-time cashier position at a department store, earning
    7·1 answer
  • Which of the following assessments of electronic retailing is most accurate? a. The line between electronic retailing and tradit
    14·1 answer
  • PA5.
    7·1 answer
  • The government of a country increased the minimum wage from $21 to $30. A factory owner had to lay off some of his workers becau
    10·2 answers
  • Crawford Company has total proceeds (before segregation of sales taxes) from sales of $7,155. If the sales tax is 6%, the amount
    13·1 answer
  • Sales for the year were $500,000. Accounts receivable were $100,000 and $80,000 at the beginning and end of the year, respective
    10·1 answer
  • There are three rooms. The first one is filled with very important papers. The second one is filled with money. The third one is
    10·2 answers
  • What G-ocentric model would you understand and predict a limited portion of an employee performance
    12·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!