Bess, Ray, and Irwin Inherited 48 Acres of Land, Which

question 50

Multiple Choice

Bess, Ray, and Irwin inherited 48 acres of land, which they own as tenants in common. If Bess decides she wants to live on a portion of the land, in order to get clear title to that portion:

• A) Bess may request that the land be partitioned, which would change her, Ray's, and Irwin's undivided interests in the whole parcel into smaller, individually owned parcels.
• B) Bess need only move onto the land, as she has the right to possession of the whole 48 acres.
• C) Bess would need to convince Ray and Irwin to join her in selling the entire 48 acres, and she would then need to buy the portion she wishes to own separately.
• D) Ray and Irwin must agree to relinquish their right of survivorship and thus destroy the present tenancy.

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Definitions:

Process Cost Accounting

An accounting method used to track and allocate costs of production by process or department.