Xue and Zoe Are Cousins Who Own a Property as Tenants

question 19

Multiple Choice

Xue and Zoe are cousins who own a property as tenants in common.Xue wants Zoe to buy his share which two valuers have estimated to be $ 300 000.Zoe is only willing to pay $200 000.Which statement best sums up Xue's legal rights?

• A)Xue has no right to terminate the tenancy.The best he can hope for is that Zoe will die first and he will automatically acquire full rights in the property.
• B)Xue has the right to ask a court for order for specific performance to force Zoe to buy his share for $200 000.
• C)Xue has the right to terminate the tenancy and offer it for sale.
• D)Xue could ask a court to appoint a trustee to oversee the sale of the property.

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Definitions:

Operating Expenses

Operating expenses are the costs associated with running a company's core business operations, excluding the cost of goods sold, such as rent, utilities, and payroll.

Merchandising Business

A type of business that purchases goods and sells them at a higher price without changing their form.

Merchandising Income Statement

A financial statement that shows the gross profit, operating expenses, and net income of a company that buys and sells goods.

Administrative Expenses

Administrative Expenses are costs related to the general operation of a business, including expenses such as office supplies, salaries of administrative personnel, and rent.