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9 Cards in this Set
- Front
- Back
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Severalty ownership |
Not a form of coownership Ownership by a single person, either by an entity or a natural person |
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Partnership |
Owns real estate in its name only, and therefore in severalty |
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Trust |
Hybrid creature, straddling the line between coownership and single ownership Beneficiary has equitable title |
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Trustor |
Gives, transfers, or conveys the real or personal property to another |
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Trustee |
use, manage, and control of the trust property for the benefit of the beneficiary |
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Tenancy in common |
Ownership by two or more persons |
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Probate court |
Approves transfer of an interest in inheritance or by device (via a will). |
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Statutory survivorship tenancy |
Upon death of any one of the tenants, the decedent's interest to pass onto survivors. |
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Estate by entireties |
Husband and wife can establish co-ownership, and they are one entity. |
