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Mini Case questions 29 - 30Mr. and Mrs. Meyer own 800 acres of farmland titled as joint tenants with rights of survivorship, not as tenants
Mini Case questions 29 - 30Mr. and Mrs. Meyer own 800 acres of farmland titled as "joint tenants with rights of survivorship, not as tenants in common." Currently the land is appraised at $5,000 per acre. In addition, Mr. Meyer holds a $200,000 CD in his name only, and Mrs. Meyer holds a $200,000 CD in her name only. Mr. and Mrs. Meyer have no debts. Mrs. Meyer's last will and testament provides that "all of my assets at my death shall be divided in three equal portions among my two children and my husband." 30. Two weeks after Mrs. Meyer died, Mr. Meyer died and his will provided, "I hereby give all my real property to my brother James, and I give all my personal property to my children, share and share alike." Which one of the following statements is true? a. The children will inherit Mr. Meyer's CD and his interest in the farm. b. The children will inherit Mr. Meyer's CDs and none of his interest in the farm. c. The children will inherit no interest in either Mr. Meyer's CD of the farm. d. Mr. Meyer's CDs are subject to probate, but Mr. Meyer's farm interest is not subject to probate
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