Karen, Kelsey, Rita, and Lizzi own a large commercial building as concurrent owners.They are tenants with the right to survivorship.Lizzi sells her one-quarter interest in the building to Stella.What kind of concurrent ownership exists between Karen, Kelsey, Rita, and Stella?

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When Lizzi sold her interest to Stella, the joint tenancy was severed, and Stella became a tenant in common with the remaining joint tenants (Karen, Kelsey, and Rita). Joint tenancy requires all owners to acquire their interest at the same time, and selling to a new party breaks this unity.

Karen, Kelsey, Rita, and Lizzi Own a Large Commercial Building