Three siblings — Alana, Beau, and Cora — inherit a parcel of land in Hawaii as tenants in common, each holding an undivided one-third interest. Alana wants to sell her share to a third party without the consent of Beau and Cora. Under Hawaii law, which of the following statements is correct?
Correct Answer
B) Alana may freely sell or transfer her undivided one-third interest to a third party without consent from Beau or Cora
Under tenancy in common, each co-owner holds a separate, undivided interest in the property that they may freely sell, transfer, mortgage, or devise without the consent of the other co-owners. Alana's undivided one-third interest is her own property, and she has the right to convey it to any third party. The purchaser would then become a tenant in common with Beau and Cora.
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Related Topics & Key Terms
Key Terms:
Related Concepts
In a cooperative (co-op), the building is owned by a corporation, and residents purchase shares of stock in the corporation that entitle them to a proprietary lease on a specific unit. Residents are shareholders, not property owners.
Fee simple absolute is the highest and most complete form of property ownership, giving the owner unrestricted rights to use, possess, enjoy, and dispose of the property. It is of unlimited duration and fully inheritable.
Community property is a system where property acquired during a marriage is owned equally by both spouses.
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