Grace and Henry are joint tenants on a residential property in Tulsa, Oklahoma. Grace executes a deed conveying her interest to herself and her husband, Frank, as tenants in common. Grace does not inform Henry of this conveyance. What is the ownership structure of the property after this transaction?
Correct Answer
D) Grace and Frank together hold a one-half interest as tenants in common with Henry, who holds the other one-half interest as a tenant in common.
When Grace conveyed her one-half joint tenancy interest to herself and Frank, she severed the joint tenancy as to her share. The four unities required for joint tenancy (time, title, interest, possession) are broken between Grace/Frank and Henry. Grace and Frank together hold Grace's original one-half share as tenants in common with Henry. Henry retains his original one-half interest but it is now held as a tenancy in common (since the joint tenancy has been severed). The relationship between Grace and Frank within their combined one-half share would be analyzed separately, but as against Henry, all parties are tenants in common. Grace's conveyance to herself and Frank does not need Henry's consent and is effective without notice to Henry.
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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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