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lbvjy [14]
4 years ago
15

Jay owns Gatsby Islands and wants to convey it to his good friends, Nick and Daisy. Nick lives next door to Jay while Daisy live

s across the waters. He conveys an interest in Gatsby Islands "to Nick as tenants by the entirety." Two months later, he makes a corresponding conveyance to Daisy. Jay created the following:_______
a. tenancy in common
b. severalty community property
c. joint tenancy with rights of survivorship
d. tenancy by entirety
Business
1 answer:
maw [93]4 years ago
8 0

Answer:

Correct Answer:

c. joint tenancy with rights of survivorship

Explanation:

The property Jay owes on Gatsby Island belongs to him but he wishes to share th ownership with his 2 good friends. His conveyance of the message to both which reads <em><u>"tenants by the entirety"</u></em> <em>shows that he and his friends has equal ownership and rights to the Gatsby Island property.</em>

<em>In the event that either him or one of the friends dies, the full title of the property automatically passes to the surviving person.</em>

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