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

question 49

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 is true regarding Michelle's claim for the $10,000?

• A) She has no interest in the house on which to base a claim.
• B) She may obtain a lien on the house.
• C) She can require that Mina pay it based on Mina's inheritance interest in the house.
• D) She can require that David pay it based on David's inheritance interest in the house.
• E) She can require that both David and Mina pay it based upon their inheritance interests in the house.

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Definitions:

Return On Investment

A performance measure used to evaluate the efficiency of an investment by comparing the amount of return relative to the investment’s cost.

Sales To Investment

A ratio that measures the return on investment by comparing the sales generated to the amount of investment made.

Investment Turnover

A measure of the activity or liquidity of an investment portfolio, indicating how frequently assets within the portfolio are bought and sold.

Return On Investment

A measure of the profitability and efficiency of an investment, calculated as net profit divided by the cost of the investment.