Justin and Kylie Are Married and Own a Certain Piece

question 26

Multiple Choice

Justin and Kylie are married and own a certain piece of real property jointly. Neither spouse individually can terminate the ownership; only a joint decision to do so will be effective, and they are said to hold the property as _____.

• A) tenants in common
• B) tenants by the entirety
• C) absolute tenants
• D) tenants in severalty
• E) leasehold tenants

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Definitions:

Statute of Limitations

A legal rule setting the maximum time period in which certain actions can be brought to court or certain rights enforced, after which claims are barred regardless of merit.

Undisputed Debt

The amount of money owed that is not contested or challenged by the debtor, accepted as due and payable.

Statute of Limitations

The law prescribing the time limit within which legal action must be brought for certain kinds of claims or rights to be enforced.

Illusory Promise

A statement that appears to be a promise but does not actually commit the promisor to any action, lacking enforceable obligations.