Question
Patricia met Joel F. Tamraz in December 1987. At that time, Joel was in the process of purchasing a condominium in Malibu, California, for $220,000.
Patricia met Joel F. Tamraz in December 1987. At that time, Joel was in the process of purchasing a condominium in Malibu, California, for $220,000. Although Joel initially took title to the property in his name only, before escrow closed he signed a quitclaim deed in which he granted one-third of his separate property interest in the Malibu condominium to Patricia, with title to be held as tenants in common.Which of the following statements is correct?
a.The two are joint tenants with right of survivorship.
b.Joel has created a valid tenancy in common.
c.Because the transfer occurred before closing it is invalid.
d.Because the proper unities are not present, there is no valid tenancy in common.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started