Téa and David are co-tenants of Blackacre.There are no other co-tenants.Blackacre has been leased to the Bland Corp for $50 000.That profit does not necessarily have to be split equally between Téa and David.

Question

Quizplus · Accepted Answer

As co-tenants, Téa and David have an equal right to possession and enjoyment of the property, but they do not necessarily have an equal right to profits or other financial benefits gained from the property. Therefore, the profit from the lease to the Bland Corp may be split in a way that is agreed upon by Téa and David or as determined by their contract or agreement.

Téa and David Are Co-Tenants of Blackacre