7. If a deed creating a tenancy in common does NOT state the fractional interest of each co-owner, it
Answer: B
If a deed creating a tenancy in common does NOT state the fractional interest of each co-owner, it is presumed each owner has an equal interest.
When a deed establishing a tenancy in common lacks specific fractional interests for each co-owner, it is generally assumed that all co-owners hold equal shares in the property. This presumption aligns with legal principles governing tenancies in common.
A) is void.
This option is incorrect because a deed that does not specify fractional interests does not render the entire deed void. Tenancies in common can exist even without detailed specifications of shares, as the law provides a default assumption regarding ownership interests.
B) is presumed each owner has an equal interest.
This option is correct as it reflects the legal assumption that in the absence of specified fractional interests, each co-owner is deemed to have an equal share in the property. This principle ensures fair and equitable treatment of co-owners in the absence of explicit terms.
C) must be determined by a majority vote of the tenants.
This statement is incorrect because the determination of fractional interests does not require a majority vote among the tenants. In a tenancy in common, the law presumes equal interests unless otherwise stated in the deed, making voting unnecessary for this purpose.
D) becomes a joint tenancy.
This option is incorrect as well, as a tenancy in common does not automatically convert into a joint tenancy simply due to the lack of specified fractional interests. The two types of tenancies have distinct characteristics, and one cannot change into the other without specific intent and compliance with legal requirements.
Conclusion
In summary, the correct answer is that if a deed creating a tenancy in common does not specify the fractional interests of each co-owner, it is presumed that each owner has an equal interest. This assumption facilitates clarity and fairness in property ownership, distinguishing it from other options that incorrectly interpret the legal implications of such a deed.