A Valid Joint Tenancy Must Have the Four Unities Of

question 50

Multiple Choice

A valid joint tenancy must have the four unities of:

• A) time, title, interest, remainder
• B) title, time, possession, interest
• C) interest, right, possession, time
• D) time, title, occupancy, possession

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Definitions:

Bearer Instrument

Any instrument that is not payable to a specific person, including instruments payable to the bearer or to “cash.”

Authorized Representative

An individual or entity legally empowered to act on behalf of another person or group in business dealings.

Negotiate

The process of discussing something with one or more people in order to reach an agreement or compromise.

Assignment

The act of transferring rights or duties under a contract to another party.