Your client, who does not have a will and does not plan to write one, recently purchased a tract of farmland to include in the family farming operation. He wants the entire tract to pass upon his death to his son, who will continue the farming operation. He wants the remainder of his property to pass to his wife. You should advise him that, to accomplish his objectives, the most appropriate form of titling to use for the farmland tract is A) joint tenancy with right of survivorship with his son. B) tenancy in common with his son and wife. C) tenancy in common with his son. D) joint tenancy with right of survivorship with his son and wife.
Your client, who does not have a will and does not plan to write one, recently purchased a tract of farmland to include in the family farming operation. He wants the entire tract to pass upon his death to his son, who will continue the farming operation. He wants the remainder of his property to pass to his wife. You should advise him that, to accomplish his objectives, the most appropriate form of titling to use for the farmland tract is A) joint tenancy with right of survivorship with his son. B) tenancy in common with his son and wife. C) tenancy in common with his son. D) joint tenancy with right of survivorship with his son and wife.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Your client, who does not have a will and does not plan to write one, recently purchased a tract of farmland to include in the family farming operation. He wants the entire tract to pass upon his death to his son, who will continue the farming operation. He wants the remainder of his property to pass to his wife.
You should advise him that, to accomplish his objectives, the most appropriate form of titling to use for the farmland tract is
A)
joint tenancy with right of survivorship with his son.
B)
tenancy in common with his son and wife.
C)
tenancy in common with his son.
D)
joint tenancy with right of survivorship with his son and wife.
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