Generally, can a co-tenant not possessing the property collect rent from the co-tenant in possession? No Yes, but only if the non-possessing co-tenant has a larger ownership interest Yes, in all circumstances rent will be collected Yes, but only in tenancy-in-common All states allow for community property between spouses. True False Co-habitation alone can create a common-law marriage, providing it extends beyond a statutory time. True False Tenants-in-common owe of the property mortgage and taxes. A share proportionate to his or her usage of the property A share proportionate to his or her interest in the property An equal share They are individually and severally liable for the entire interest True or False: Limited liability companies must have bylaws. True False The main purpose of the Securities Act of 1933 was to: Regulate the resale of securities. Regulate the initial issuance of securities. Protect investors from corporate fraud. Establish the Securities Exchange Commission