Which of the Following Is an Example of Shared-Property Ownership

question 85

Multiple Choice

Which of the following is an example of shared-property ownership?

• A) Lease
• B) Fee simple absolute
• C) Tenancy by the entirety
• D) Life estate

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Definitions:

Donee Beneficiary

A third party who benefits from a contract made between two other parties, specifically where the intent is to gift a benefit or rights under the contract to the third party.

Promisee

The person to whom a promise is made or a commitment is given.

Promisor

An individual or entity that makes a promise or agreement to perform a specified act or service in a contract.

Delegable

Refers to duties or tasks that can be assigned or transferred from one party (the delegator) to another (the delegatee), legally allowing for the completion of the task by someone other than the original party.