Ted and Janet Were Married and Owned a Piece of Jungle

question 19

Multiple Choice

Ted and Janet were married and owned a piece of jungle property in a joint tenancy.When Janet died,her will left of all her real property to T.J.,their adult son. T.J.claims he is the sole owner of the jungle property.Ted objects and files a lawsuit for sole ownership of the jungle property.

• A) Ted will win because property owned in a joint tenancy which includes rights of survivorship for the surviving spouse.Ted will get the title to the entire property.
• B) Ted will win only a one-half interest in the jungle property.T.J.will own the other one-half interest because Janet had the right to will her half of the property to anyone she chose.
• C) Ted will lose and forfeit his entire interest in the whole property because a joint tenancy means that one party owns only part of the property.
• D) None of these answers are correct

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Definitions:

Underpriced

A term describing a security or other asset that is selling for a price considered to be below its intrinsic or true value.

Arbitrage Profit

The profit made from buying and selling identical assets in different markets or formats to take advantage of differing prices for the same asset.

Buying

The action of acquiring ownership in a security or other financial asset in the hope of generating a gain.

Selling

The process of parting with goods or services in exchange for money or other compensation.