Which of the following is TRUE about real property? In a joint tenancy with a ri

Question

Which of the following is TRUE about real property?

In a joint tenancy with a right of survivorship, when one joint tenant dies his or her interest in the property passes automatically to the surviving joint tenant, who is typically the surviving spouse.

The real estate contract is the legal instrument that transfers title to real property.

"Quitclaim deeds" are illegal since no warranties of title are made by the grantor.

Real property cannot be owned concurrently in the U.S. since the government will not know exactly who is going to pay the taxes on the property.

In a joint tenancy with a right of survivorship, when one joint tenant dies his or her interest in the property passes automatically to the surviving joint tenant, who is typically the surviving spouse.

The real estate contract is the legal instrument that transfers title to real property.

"Quitclaim deeds" are illegal since no warranties of title are made by the grantor.

Real property cannot be owned concurrently in the U.S. since the government will not know exactly who is going to pay the taxes on the property.

Explanation / Answer

The statement a is true. under common law, if one owner dies then the owner's interest in the property will pass to the surviving owner or owners. She will also avoid probate.

Real estate contract is a contract between parties for the purchase and sale, exchange of real estate. Quitclaim deeds is the legal instrument that transfers title to real property. Hence statement b is false.

Quitclaim deeds is legal even if it does not give any warranties of title to the grantee. Hence statement c is also fale

Statement d is also false as US allows real property to be owner concurrently owned in the U.S.

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