Bob and Ray Own a Vacation Home as Joint Tenants

question 41

Multiple Choice

Bob and Ray own a vacation home as joint tenants with each having 50 percent ownership.Ray then sells his 50 percent to Steven without Bob's knowledge.Two weeks later Steven dies unexpectedly.Which of the following is true?

• A) Steven's share of the property goes to Bob.
• B) Steven never got half the property because Ray's attempted sale was ineffective because it was made without Bob's knowledge.
• C) Steven's share of the property passes according to the terms of Steven's will.
• D) Steven's share of the property goes back to Ray.

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Definitions:

Lessee

A person who acquires the right to possession and use of goods under a lease.

Inspects

To look at something or someone closely and carefully in order to discover information, especially about their quality or condition.

Pays

Relates to the act of settling a debt or fulfilling an obligation, particularly in the context of rendering payment for services or goods received.

Installment

Regular payments made over a period of time until the total debt is paid.