[Family Dispute] When Leona and Oscar Married, They Both Had

question 11

Multiple Choice

[Family Dispute] When Leona and Oscar married, they both had children from previous marriages. After their marriage, Leona and Oscar purchased a home together as tenants by the entirety and lived there for many years. Oscar died when he was 93 and Leona was 95. Oscar's will left any property he owned to his son, David, who promptly told Leona that she needed to get out of the house. Leona told him to forget it. Leona died a week later. Her will left everything she owned to her daughter, Mina, who moved in the home and refuses to leave. Michelle, who had loaned Oscar $10,000, has filed a claim against any heir of Oscar or Leona, including David and Mina, claiming an interest in the home to satisfy the debt Oscar owed her.
-Which of the following would be the most likely result regarding Mina's claim to the house?

• A) She receives all her mother's things including the house.
• B) Because of the form of ownership previously held by Leona and Oscar, she only receives a portion of the ownership of the house with the remainder being held by any other children of Leona or Oscar, including David.
• C) She receives only a life estate with the remainder going to David when she dies.
• D) She does not receive anything because the entire title had already passed to David.
• E) She must provide David with a one-half interest in the house only because her mother did not live longer than 6 months following the death of Oscar.

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Definitions:

Stockholders

Individuals or entities that own shares in a corporation, thus having an interest in its performance and profits.

Employee-Owned Corporations

Businesses where the majority of the stock is owned by the employees, often leading to high levels of staff engagement and motivation.

Shares Of Stock

Units of ownership interest in a corporation or financial asset, representing a portion of a company's capital.