Paul and Diana are married and own a home.Both of their names are on the mortgage.This is an example of a
A)tenancy in kind.
B)tenancy at will.
C)concurrent estate.
D)shared estate.

Question

Paul and Diana are married and own a home.Both of their names are on the mortgage.This is an example of a
A)tenancy in kind.
B)tenancy at will.
C)concurrent estate.
D)shared estate.

Quizplus · Accepted Answer

A concurrent estate is when multiple individuals own the same property at the same time. In this scenario, both Paul and Diana are on the mortgage and therefore are both concurrently owning the home. Tenancy in kind refers to ownership of separate and distinct portions of property, tenancy at will is a type of lease agreement, and shared estate is not a recognized term in real estate law.

Paul and Diana Are Married and Own a Home