Asked by Bryan Velasquez Beltran on Jul 23, 2024
Verified
The separation or division of joint ownership is referred to as severance.
Severance
An owner’s removal of chattel that he has affixed; separation or division of joint ownership; action by one of the co-owners that is inconsistent with joint tenancy.
Joint Ownership
Shared ownership of property by two or more parties where all owners have equal rights and obligations regarding the property.
- Understand the methods used for the change or transfer of property rights.
Verified Answer
JH
Janeen HowellJul 29, 2024
Final Answer :
True
Explanation :
Severance refers to the act of dividing or separating joint ownership or interest in property, effectively ending the joint ownership and distributing the property among the owners individually.
Learning Objectives
- Understand the methods used for the change or transfer of property rights.