In California, four friends — W, X, Y, and Z — own a vacation property as joint tenants. W dies. Then X sells their interest to a stranger, M. What is the resulting ownership structure?
Correct Answer
D) M holds 1/3 as tenant in common; Y and Z hold 2/3 as joint tenants between themselves
When W dies, W's 1/4 interest passes equally to the surviving joint tenants (X, Y, Z) by right of survivorship. X, Y, and Z now each hold 1/3 as joint tenants. When X then sells to M, X's 1/3 interest is severed from the joint tenancy. M becomes a tenant in common holding 1/3. Y and Z remain joint tenants between themselves, holding a combined 2/3 interest.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Spot zoning is an illegal or improper rezoning of a small parcel of land that is inconsistent with the surrounding zoning and the comprehensive plan. It benefits an individual owner rather than the community as a whole.
Subdivision regulations are local government rules that control the division of land into smaller parcels for development or sale. They ensure proper infrastructure, lot sizes, and public improvements are provided.
A variance is an authorized deviation from the existing zoning ordinance granted to a property owner who demonstrates unique hardship. It allows a use or structure that would otherwise violate the current zoning rules.
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