In 2006, Roger Gives Stock Valued at $100,000 to Martha

question 45

Multiple Choice

In 2006, Roger gives stock valued at $100,000 to Martha. Roger and Martha are not related. In 2008, Martha uses the stock then valued at $110,000 as partial consideration to acquire realty costing $220,000. Pat (her brother) furnishes the remaining $110,000 of consideration. The realty is titled in the names of Martha and Pat as joint tenants with right of survivorship. This year, Martha dies and Pat survives. The realty is valued at $300,000 at Martha's death. How much, if any, of the realty's value will be included in Martha's estate?

• A) $0
• B) $110,000
• C) $150,000
• D) $300,000

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Definitions:

Conversion

In law, the unauthorized act of taking or using someone else's property as if it were your own, leading to potential civil liability.

Voluntarily Participate

To choose to take part in an activity or process without being coerced or compelled to do so.

Consent

Agreement or approval for something to happen, given freely and consciously by a person capable of making the decision.

Slander Per Se

Defamatory statements that are considered damaging on their face, without the need for the plaintiff to prove actual harm, including allegations of a loathsome disease, professional incompetence, criminal behavior, or unchastity.