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Holding Title

R.E. methods of holding title for exam study california version

QuestionAnswer
Type of tenancy that means separate ownership by 1 person alone Tenancy in Severalty
Type of tenancy where 2 or more people holding title w/undivided interest (ea w/interest in entire prop/undivided)w/right of survivorship for remaining living tenant when other tenant dies/interest not passed to heirs Joint Tenancy
Time,Title,Interest and possession these are the 4 unities to create this type of tenancy Joint
Joint tenant cannot ________ their share of property will
Surving joint tenants are not liable for personal _______ of deceased joint tenant debts
This action is brought by joint tenant to transfer an interest/break the joint tenancy partition action
type of tenancy is undivided interest by 2 or more people w/out right of survivorship.when property is conveyed to 2 or more people other than husband/wife. If vesting/title not specified of tenancy this type of tenancy automatically assumed this type Tenancy in Common
Tenancy consisting of 2 or more co-owners of business for profit/partnership created by agrmt,but not in writing. tenancy in partnership
tenancy in partnership also called general partnership
general partners active in partnership are personally liable for debts of partnership. any partner can contractually bind other partners Partners liability
this type of partnership must have 1 general partner(can be corp)but other partners have limited liability/w/no liability beyone their investment/pledges limited partnership
this type of insurance pays insurance to the partners of deceased w/o dissolving the business death of partner
This is an association for single endevor. This is not intended to be continuing relationship beyone a single project joint venture
Artifical person created by law. since this doesn't die.
Created by: 1618561149