Sandra and her brother Joel own a Virginia investment property as joint tenants with right of survivorship. Without Sandra's knowledge, Joel executes a deed conveying his interest in the property to his friend Carlos. What is the legal effect of Joel's conveyance in Virginia?
Correct Answer
B) Joel's conveyance severs the joint tenancy, and Carlos and Sandra now hold the property as tenants in common.
In Virginia, a joint tenant may unilaterally convey their interest to a third party without the consent of the other joint tenant(s). However, doing so severs the joint tenancy as to the conveyed interest. The result is that Carlos (the grantee) and Sandra now hold the property as tenants in common — Carlos holds Joel's former share without survivorship rights, and Sandra's original joint tenancy interest is converted to a tenancy in common interest.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Condominium ownership involves owning a unit of airspace within a multi-unit building plus an undivided interest in the common elements shared with other unit owners. Each unit is separately taxed and financed.
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.
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