Question
I need help with this Scotty and Kirk own a speedboat together. They are not related but have been friends since childhood. They own equal
I need help with this
Scotty and Kirk own a speedboat together. They are not related but have been friends since childhood. They own equal shares of the boat. Thinking about the future, Kirk decides he would like to leave his half of the boat to Scotty should he die first. What form of titling would ensure that Kirk's wishes are met, even if Leonard, unrelated third party, contested the transfer?
Tenancy in common.
Fee simple.
JTWROS.
Community property.
Imagine your favorite aunt is about to be married. Once married, she and her spouse plan to live in Florida to enjoy the sunshine and beaches. As a couple, they have the following property ownership goals:
To purchase a single-family home.
To title the home so, regardless of who might die first, the surviving spouse will own the home automatically.
To maintain financial privacy and avoid probate.
-How should they title their new home?
JTWROS
community property
tenancy in common
fee simple
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