2. What is the difference between a joint tenancy and tenancy 3. What are the requirements for acquiring property by adverse po 4. W hat is contained in an environmental impact statement, and w S. What are three main goals of the Clean Water Act? Answers to the even-numbered Learning Objectives Check que usiness Scenarios and Case Problems 4-1. Property Ownership. Twenty-two years ago, Lorenz was a wanderer. At that time, he decided to settle down on an unoc- cupied, three-acre parcel of land that he did not own. People in the area told him that they had no idea who owned the property. Lorenz built a house on the land, got married, and raised three children while living there. He fenced in the land, installed a gate with a sign above it that read "Lorenz's Home- stead," and removed trespassers. Lorenz is now confronted by Joe Reese, who has a deed in his name as owner of the property