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 now exists between Karen, Kelsey, Rita, and Stella?

Question

Quizplus · Accepted Answer

When Lizzi sells her share, the joint tenancy among the original owners is broken for that share, converting the ownership into a tenancy in common for Stella's portion, as tenancy in common does not require the right of survivorship.

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