Asked by Carmia Mattox on May 10, 2024
Verified
To create a joint tenancy, the tenants must assume title by the same instrument.
Joint Tenancy
A form of co-ownership where parties own property equally with the right of survivorship, meaning that upon the death of one, the property entirely passes to the surviving owner(s).
Same Instrument
A term used in legal and financial contexts to refer to the original document or piece of evidence in question, without any alterations or modifications.
- Acquire knowledge of the legal prerequisites and ramifications of transferring and conveying interests in real property.
Verified Answer
ZK
Zybrea KnightMay 15, 2024
Final Answer :
True
Explanation :
For a joint tenancy to be created, all tenants must acquire the property simultaneously through the same deed or instrument, ensuring they have equal shares and rights.
Learning Objectives
- Acquire knowledge of the legal prerequisites and ramifications of transferring and conveying interests in real property.