Property Ownership
In Tennessee, which of the following statements about joint tenancy is TRUE?
AJoint tenants may hold unequal interests
BA joint tenant may sever the joint tenancy by conveying their interest to a third party✓ Correct
CJoint tenancy requires a court order to terminate
DJoint tenancy can only be created by spouses
Explanation
A joint tenant can sever the joint tenancy by conveying their interest to a third party (or even to themselves in some states). The new owner takes the interest as a tenant in common, not a joint tenant.
Related Tennessee Property Ownership Questions
- Tennessee is NOT a community property state. Instead, it follows the principle of:
- In Tennessee, the Tennessee Residential Property Condition Disclosure Act requires sellers to disclose:
- Tenancy in common differs from joint tenancy in that tenants in common:
- In Tennessee, a 'legal description' of real property may use all of the following methods EXCEPT:
- A leasehold estate gives the tenant:
- A Tennessee property owner's 'bundle of rights' includes the right to encumber the property. This means the owner may:
- A life estate conveys property ownership that:
- A condominium owner holds:
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