Patricia owns a home in Bozeman, Montana and holds title in severalty. She wants to add her daughter Lisa as a co-owner with the right of survivorship. Patricia executes a new deed naming both herself and Lisa as joint tenants. Which of the following statements is correct regarding this transaction under Montana law?
Correct Answer
D) The deed creates a valid joint tenancy, and both Patricia and Lisa now hold title with the right of survivorship.
Montana law, consistent with modern property law reforms, allows an owner to convey property directly to themselves and another person as joint tenants without the need for an intermediary or 'straw man' transaction. Patricia's deed naming both herself and Lisa as joint tenants is valid and creates a joint tenancy with the right of survivorship. This modernized approach is recognized under Montana statutes governing conveyances.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A life estate is a freehold estate that grants ownership rights for the duration of someone's life.
Real property is immovable land and anything permanently attached to it, while personal property (also called chattels) is movable.
Tenancy by the entirety is a form of co-ownership available only to married couples that includes the right of survivorship and protection from individual creditors. Neither spouse can unilaterally sell or encumber the property.
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