Three investors want to buy a small office building in 2026. They want ownership shares of 50%, 30%, and 20%, and they each want their interest to pass by will rather than automatically to the others if they die. Which form of ownership best fits those goals?
Correct Answer
C) Tenancy in common
Tenancy in common allows unequal undivided ownership percentages and does not include survivorship unless separately created. That makes it the best fit when investors want flexible percentage ownership and the ability to pass each share by will.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A freehold estate conveys ownership rights, while a leasehold estate grants the right to possess and use property for a specific period without ownership.
Riparian rights concern properties bordering flowing bodies of water (rivers, streams), while littoral rights concern properties bordering non-flowing bodies of water (lakes, oceans).
The bundle of rights describes the rights associated with property ownership, allowing owners to use, control, enjoy, exclude others from, and dispose of the property.
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