Asked by Jalyn Lankford on May 20, 2024
Verified
Which of the following is NOT an example of concurrent ownership?
A) A joint tenancy.
B) A tenancy by the entireties.
C) A tenancy in common.
D) A lease between a landlord and a tenant.
Concurrent Ownership
A form of property ownership in which two or more parties possess rights to the same property at the same time.
Joint Tenancy
A form of co-ownership where two or more persons hold an undivided interest in property with the right of survivorship, meaning when one owner dies, their interest passes to the surviving co-owner(s).
Tenancy by the Entireties
A form of joint property ownership typically reserved for married couples, where each owns an undivided whole of the property.
- Acquire knowledge on the mechanics of shared ownership and the legal entitlements and duties of joint owners.
Verified Answer
SR
Sarita RampersadMay 21, 2024
Final Answer :
D
Explanation :
A lease between a landlord and a tenant is not an example of concurrent ownership because it involves a contractual agreement where one party (the landlord) grants the other party (the tenant) the right to use and occupy property for a certain period of time, rather than both parties owning the property together at the same time. Concurrent ownership refers to situations where two or more parties hold ownership interests in a property simultaneously, such as in joint tenancy, tenancy by the entireties, and tenancy in common.
Learning Objectives
- Acquire knowledge on the mechanics of shared ownership and the legal entitlements and duties of joint owners.