Carol wants to deed her property in Westchester County to her three children: David (40% interest), Ellen (35% interest), and Frank (25% interest) as tenants in common. How should the deed be written to accomplish this goal?
Correct Answer
A) "To David Smith, an undivided 40% interest, Ellen Smith, an undivided 35% interest, and Frank Smith, an undivided 25% interest, as tenants in common"
This language clearly creates a tenancy in common with unequal interests as specified. It explicitly states each person's percentage interest and identifies the ownership as 'tenants in common,' which allows for unequal interests and no right of survivorship.
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Mark is preparing to execute a quitclaim deed for property in Rochester. All of the following statements about quitclaim deeds in New York are correct EXCEPT:
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