Clayton and Margie Gulledge owned a house at 532 Somerset Place, N.W. (the Somerset property) as tenants
Question:
Clayton and Margie Gulledge owned a house at 532 Somerset Place, N.W. (the Somerset property) as tenants by the entirety. They had three children: Bernis Gulledge, Johnsie Walker, and Marion Watkins. When Margie Gulledge died in 1994, Clayton became the sole owner of the Somerset property. The following year, Clayton remarried, but the marriage was unsuccessful. To avoid a possible loss of the Somerset property, Bernis forwarded Clayton funds to satisfy the second wife’s financial demands. In exchange, Clayton conveyed the property to Bernis and himself as joint tenants. In 2015, Clayton conveyed his interest in the Somerset property to his daughter, Marion Watkins. In 2015, Clayton died. Bernis died in 2021, and Johnsie Walker died in 2018. In these proceedings, Marion Watkins claims to be a tenant in common with the estate of Bernis Gulledge. The estate claims that when Clayton died, Watkins’ interest was extinguished and Bernis became the sole owner of the Somerset property. Who is correct? Explain.
Step by Step Answer:
Smith And Roberson Business Law
ISBN: 9780357364000
18th Edition
Authors: Richard A. Mann, Barry S. Roberts