Bundle: The Legal Environment of Business: Text and Cases, Loose-Leaf Version, 10th + MindTap Business Law, 1 term (6 months) Printed Access Card
10th Edition
ISBN: 9781337379373
Author: Frank B. Cross, Roger LeRoy Miller
Publisher: Cengage Learning
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Question
Chapter 26, Problem 7BCP
Summary Introduction
Case summary: The person A and D owned three properties in joint tenancy. After their divorce, the court didn’t change the tenancy in property. During divorce proceedings, A executed a will and asserted that “the property in my name will pass to the survivor”. After 4 years, A’s brother C asserted that A’s interest in the properties were part of the estate. D said that the sole interest in the properties was hers.
To find:The owner of the property.
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Students have asked these similar questions
Rebecca, age 53, died suddenly of a heart attack. She leaves behind her husband Chris and her three teenage sons, Calvin, Cameron and Craig. Rebecca does not have a will and leaves behind the following assets:
House $800,000 (Joint Ownership with Chris)
Non-registered Portfolio $273,593 (Individually owned)
RRSP $370,068 (Beneficiary: Chris)
Life insurance $309,927 (Beneficiary: Estate)
Assuming that Rebecca lives in Ontario, how much will each of her sons inherit from her estate?
Round your answer to the nearest dollar.
In Suzanne’s will, she left her home and five acres to her niece, Abrhianna. However, before her death, Suzanne sold the property to Clark, providing a deed in fee simple. At the moment of Suzanne’s death, who owns the property?
Select the right answer.
a) neither Clark nor Abrhianna own the property.
b) Clark and Abrhianna become co-owners of the property.
c) Clark owns the property.
1.In which of the following circumstances is an individual’s Will not automatically revoked?
Destruction of the Will with the intention of revoking the Will
Divorce
Making another Will
Marriage
2. John eight months ago served on the trustees of his complying superannuation fund a binding death benefit nomination in which he named his then spouse. John would like to make a change, but isn’t sure whether he can make a replacement nomination, and if so, whether he can make it now or whether he has to wait until two years after that nomination.
Can John make replacement binding death benefit nomination:
Now
Never
At the end of two years
Chapter 26 Solutions
Bundle: The Legal Environment of Business: Text and Cases, Loose-Leaf Version, 10th + MindTap Business Law, 1 term (6 months) Printed Access Card
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