What is the legal presumption in Florida when a deed conveys property to two or more unmarried persons without specifying the form of ownership?
Correct Answer
A) Tenancy in common with equal shares
Correct: A - Tenancy in common with equal shares. Florida law presumes tenancy in common with equal shares when the deed doesn't specify the ownership form for unmarried grantees. Why not B: This option is incorrect because "Joint tenancy with right of survivorship" does not match the rule tested by the question. The correct answer is "Tenancy in common with equal shares". Florida law presumes tenancy in common with equal shares when the deed doesn't specify the ownership form for unmarried grantees. Why not C: This option is incorrect because "Tenancy by the entirety" does not match the rule tested by the question. The correct answer is "Tenancy in common with equal shares". Florida law presumes tenancy in common with equal shares when the deed doesn't specify the ownership form for unmarried grantees. Why not D: This option is incorrect because "Community property" does not match the rule tested by the question. The correct answer is "Tenancy in common with equal shares". Florida law presumes tenancy in common with equal shares when the deed doesn't specify the ownership form for unmarried grantees.
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Previous Question
Three investors purchase a commercial building in Fort Lauderdale as tenants in common. Alex contributes $300,000, Beth contributes $200,000, and Carlos contributes $100,000. If the property generates $60,000 in annual rental income, how much should Alex receive based on his ownership percentage?
Next Question
James and Sarah are married and purchase a vacation home in the Florida Keys. The deed states they own the property 'as joint tenants with full rights of survivorship.' James dies in an accident. Sarah remarries and wants to add her new husband to the deed. What form of ownership should be used?