contestada

Siblings Julia and Gene are co-owners of a small retail building in which a tanning salon is currently operating. Gene really wants to leave his ownership interest to his son when he dies, but the way in which they own the property doesn’t allow him to do so. What type of ownership do they have?

Respuesta :

buchinnamani208

Answer:

Joint tenancy

Explanation:

Under Joint tenancy arrangement, there is no right of inheritance. This legal arrangement involves property ownership by two or more people, each with equal rights and obligations. When one of the owners die, his interest in the property automatically goes to the survivors with no need for court interferences.

jaquelinefvr

The type of property that the brothers Julia and Gene have is a joint tenancy.

What is joint tenancy?

Corresponds to a formal agreement between two or more people, regardless of whether they are related or not, where each party has its joint rights and duties.

Therefore, in this legal arrangement, if any of the parties dies, the business is transferred to the surviving party, without transferring the right to the dependents.

Find out more about joint tenancy here:

https://brainly.com/question/14399900

#SPJ9

Otras preguntas