Question 86

Mike becomes a tenant in common with Bob and John as joint tenants

When Mike conveys his interest in the property to Sam, he severes the joint tenancy with Bob and John. This action converts Mike's share into a tenancy in common, meaning that Bob and John remain joint tenants of their shares, while Mike now holds his interest as a tenant in common with Sam.

A) Such a conveyance requires the prior approval of all of the joint tenants

This statement is incorrect because a joint tenant can convey their interest in the property without needing approval from the other joint tenants. Therefore, Mike did not need Bob and John's consent to transfer his interest to Sam.

B) Bob and John can file suit to obtain Mike's interest in the property

This option is inaccurate as Bob and John do not have the right to sue for Mike's interest after he has conveyed it to Sam. Once the conveyance occurs, Mike’s interest no longer belongs to him, and Bob and John cannot reclaim it through legal means.

C) Mike becomes a tenant in common with Bob and John as joint tenants

This is the correct statement. Upon Mike's conveyance of his interest to Sam, Mike’s share transitions to being a tenant in common with Sam, while Bob and John continue to hold their interests as joint tenants. They now own their respective shares in different tenancies.

D) Bob, John, and Mike now hold title in severality

This statement is incorrect because the conveyance does not change the ownership status of Bob and John. They remain joint tenants of their shares, while Mike's interest has changed to a tenancy in common. Therefore, all parties do not hold title in severality.

Conclusion

The correct answer, C, accurately reflects the legal implications of Mike's conveyance, resulting in him becoming a tenant in common with Sam while Bob and John maintain their joint tenancy. Options A, B, and D fail to recognize the effect of the conveyance on the ownership structure of the property.