Question

Beth, Jenny, and Molly all purchased a farm together. The deed only listed each of their names. Which of forms of ownership are they presumed to have taken?

Answer 1

Beth, Jenny, and Molly are presumed to have taken the form of ownership known as tenancy in common.

Step-by-step explanation:

Based on the information provided, Beth, Jenny, and Molly are presumed to have taken the form of ownership known as tenancy in common. In this form of ownership, each individual has an undivided interest in the property, and their shares can be passed on to their heirs after their death. Unlike joint tenancy or tenancy by the entirety, tenancy in common does not include a right of survivorship, meaning that each person's share will not automatically pass to the other owners upon their death.