Robert, Susan, and David purchase an investment property in Orlando as tenants in common. Robert owns 50%, Susan owns 30%, and David owns 20%. David wants to sell his interest to his nephew. What must happen under Florida law?
Correct Answer
D) David can freely sell his 20% interest to his nephew without restrictions
Correct: D - David can freely sell his 20% interest to his nephew without restrictions. As a tenant in common, David has the absolute right to sell, transfer, or encumber his interest without consent from the other co-tenants. Why not A: This option is incorrect because "David must offer his interest to Robert and Susan first (right of first refusal)" does not match the rule tested by the question. The correct answer is "David can freely sell his 20% interest to his nephew without restrictions". As a tenant in common, David has the absolute right to sell, transfer, or encumber his interest without consent from the other co-tenants. Why not B: This option is incorrect because "David must obtain written consent from Robert and Susan before selling" does not match the rule tested by the question. The correct answer is "David can freely sell his 20% interest to his nephew without restrictions". As a tenant in common, David has the absolute right to sell, transfer, or encumber his interest without consent from the other co-tenants. Why not C: This option is incorrect because "David must sell to all co-tenants proportionally or not at all" does not match the rule tested by the question. The correct answer is "David can freely sell his 20% interest to his nephew without restrictions". As a tenant in common, David has the absolute right to sell, transfer, or encumber his interest without consent from the other co-tenants.
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In Florida, what is the primary difference between joint tenancy and tenancy in common?
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Lisa and Tom are married and own their homestead in Jacksonville as tenancy by the entirety. Lisa dies, and her will leaves all her property to her sister from a previous marriage. Tom claims the house belongs entirely to him. Who is correct under Florida law?