Business, 15.06.2020 05:57 chegg16

Which best description of joint tenancy is best? Two or more people own a property equally or two or more people in the same family own a property equally

Answers: 2

Show answers

Answers

The best description that can denote joint tenancy that two or more people own a property equally. So, the correct option that matches the above statement is A.

Joint tenancy refers to the condition where at least two people jointly hold, acquire or possess the benefits of a property under their name in proportion as may be determined.

The joint ownership is a condition where at least two people are required to make contracts of owning, buying, renting, leasing or selling such property in an equal proportion.The ratio of ownership in case of a joint ownership of a property where the benefits are shared equally is 1:1. One partner will share the benefits and bear losses equally in proportion of the other owners.There exists a relationship of vicarious liability in case of a joint tenancy which refers that one partner will be liable for the acts of the other partner(s).

Hence, the correct option is A that the best example of a joint tenancy is when two or more people own a property equally.

To know more about joint ownership, click the link below.

link

Answer from: saraagracee

Two or more people own a property equally

Explanation:

This persons who equally own a property may not necessarily be a family member, and the property may be a business, brokerage accounts or a real estate (a single home).

In most cases however, this Joint tenancy is made between married couples, wherein both parties equally own a property and share in the responsibilities of that property. Ownership is transferred to the other remaining members of the agreement automatically if one party dies.

Answer from: Quest

d. all of the above are true.

Answer from: Quest

There are three key entities in thefederal reserve system: the board of governors, the federal reserve banks(reserve banks), and the federal open market committee (fomc). while the federal reserve has frequent communication with executive branch and congressional officials, its decisions are made independently.

Another question on Business

Business, 21.06.2019 23:30

The uno company was formed on january 2, year 1, to sell a single product. over a 2-year period, uno’s acquisition costs have increased steadily. physical quantities held in inventory were equal to 3 months’ sales at december 31, year 1, and zero at december 31, year 2. assuming the periodic inventory system, the inventory cost method which reports the highest amount for each of the following is inventory december 31, year 1/ cost of sales year 2 a: lifo fifo b: lifo lifo c: fifo fifo d: fifo lifo

Answers: 3

Answer

Business, 22.06.2019 07:10

Refer to the payoff matrix. suppose that speedy bike and power bike are the only two bicycle manufacturing firms serving the market. both can choose large or small advertising budgets. is there a nash equilibrium solution to this game?

Answers: 1

Answer

Business, 22.06.2019 07:40

(a) what was the opportunity cost of non-gm food for many buyers before 2008? (b) why did they prefer the alternative? (c) what was the opportunity cost in 2008? (d) why did it change?

Answers: 3

Answer

Business, 22.06.2019 19:40

An increase in the market price of men's haircuts, from $16 per haircut to $26 per haircut, initially causes a local barbershop to have its employees work overtime to increase the number of daily haircuts provided from 20 to 25. when the $26 market price remains unchanged for several weeks and all other things remain equal as well, the barbershop hires additional employees and provides 40 haircuts per day. what is the short-run price elasticity of supply? nothing (your answer should have two decimal places.) what is the long-run price elasticity of supply? nothing (your answer should have two decimal places.)

Answers: 1

Answer

You know the right answer?

Which best description of joint tenancy is best? Two or more people own a property equally or two or...

Questions