Question
Joan and Ted were married and owned a house as tenants by the entirety. They had three children. Ted decided that he no longer
Joan and Ted were married and owned a house as tenants by the entirety. They had three children. Ted decided that he no longer wished to own the house and he deeded his share to his good pal Al. Joan was on her way back from dropping one of the children at his soccer game. She was maintaining the speed limit and heard her cell phone ring. Fortunately, she was able to receive calls from her car's electronic system. Al had telephoned Joan to inform her that they now owned the house together, but before she could respond she was killed in an automobile accident. Who owns the house? Al and Ted Ted and Joan's three children Ted Al Joan's three children.
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South Western Federal Taxation 2014 Comprehensive Volume
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