A Connecticut property is owned by four siblings as tenants in common: Anna owns 40%, Bill owns 30%, Clara owns 20%, and Dan owns 10%. Anna wants to sell her interest to an outside investor, but the other siblings object. Under Connecticut law, which of the following is most accurate?
Correct Answer
B) Anna can freely sell her 40% interest to the investor without the consent of the other siblings
Under Connecticut law, each tenant in common holds an independent, alienable interest in the property. Anna may freely convey, sell, mortgage, or otherwise transfer her undivided 40% interest to any party she chooses without the consent of her co-owners. The investor would then become a tenant in common with Bill, Clara, and Dan. The other siblings cannot block the transfer.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The bundle of rights describes the rights associated with property ownership, allowing owners to use, control, enjoy, exclude others from, and dispose of the property.
Community property is a form of ownership recognized in certain states where property acquired during marriage is considered equally owned by both spouses, regardless of who earned the money or whose name is on the title.
Condominium ownership involves owning a unit of airspace within a multi-unit building plus an undivided interest in the common elements shared with other unit owners. Each unit is separately taxed and financed.
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