Arthur,Betty,and Clara each inherit an undivided one-third of an apartment complex.Instead of selling it,they decide to continue to operate it for the next few years as a sideline to their other occupations just to see if they can earn some extra money.What are they?
A) A partnership
B) Co-owners only
C) A corporation
D) Tenants in common

Question

Quizplus · Accepted Answer

Arthur, Betty, and Clara are co-owners of an apartment complex. They have not formed a partnership or a corporation, and they are not tenants in common. Therefore, the only option that is correct is A: A partnership.

Arthur,Betty,and Clara Each Inherit an Undivided One-Third of an Apartment