Sandra and Kevin are unmarried co-owners of a Bowling Green rental property held as joint tenants with right of survivorship. Without Sandra's knowledge, Kevin conveys his interest to his brother Mark by deed. What is the legal effect of Kevin's conveyance under Kentucky law?
Correct Answer
A) The joint tenancy is severed, and Sandra and Mark now hold the property as tenants in common.
Under Kentucky property law, a joint tenant may unilaterally convey their interest to a third party, but doing so severs the joint tenancy as to that share. Kevin's conveyance to Mark destroys the unity of title between Kevin and Sandra. Mark now holds Kevin's former interest as a tenant in common with Sandra. There is no longer a right of survivorship between them.
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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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