Which of the Following Is True of Co-Ownership of Real

question 74

Multiple Choice

Which of the following is true of co-ownership of real property?

• A) Joint tenancy and tenancy in common are two terms to describe the same legal arrangement.
• B) If it is unclear whether an arrangement is a joint tenancy or a tenancy in common,most courts will consider it to be a tenancy in common.
• C) Two owners who are married to each other cannot own the property as tenants in common.
• D) Tenancy by the entirety is often viewed as a special type of tenancy in common for persons married to each other.

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Definitions:

Externalities

Externalities are indirect effects of economic activities on third parties, which can be either positive or negative.

Negative Externality

A situation where a third party is adversely affected by the outcome of a transaction or activity between others, not compensated by those causing the impact.

Acid Rain

Acid rain is precipitation with a high concentration of acidic components, typically resulting from industrial emissions that affect water, soil, and living conditions adversely.

Tradable Pollution Permits

Licenses that allow the holder to emit a certain amount of pollution that can be bought and sold, aiming to reduce overall pollution in a cost-effective manner.