Question 47

A concurrent owner may convey a partial interest.

In a tenancy in common, each co-owner can freely convey their interest in the property to others, which means they can sell, transfer, or lease their share without needing consent from the other co-owners.

A) The ownership interest of each tenant must be equal.

This statement is incorrect because, in a tenancy in common, the ownership interests can vary. Each tenant can own different percentages of the property, and it is not a requirement for all shares to be equal.

B) A concurrent owner may convey a partial interest.

This statement is true as it accurately reflects the nature of tenancy in common. Each co-owner has the legal right to sell or transfer their individual interest in the property without affecting the interests of the other co-owners.

C) There is no right of suit for partition.

This statement is incorrect because tenants in common do have the right to file a suit for partition. This legal remedy allows any co-owner to seek a division of the property or a sale of the property to ensure that each owner can realize their share.

D) The last survivor will own the property in severalty.

This statement is incorrect as it pertains to joint tenancy, not tenancy in common. In tenancy in common, there is no right of survivorship; instead, the deceased owner's share passes to their heirs or beneficiaries, not automatically to the surviving co-owners.

Conclusion

The statement that a concurrent owner may convey a partial interest is definitively correct, as it aligns with the fundamental principles of tenancy in common. All other options fail because they either misrepresent the nature of ownership in a tenancy in common or confuse it with another form of co-ownership, such as joint tenancy.