Answer :
Final answer:
When Pete sells his interest in the jointly owned property to Clem, the joint tenancy between Pete and Joe is severed. Clem then becomes a Tenant in Common with Joe, because the four unities required for a joint tenancy are no longer present.
Explanation:
When discussing the transfer of property rights between parties, particularly in real estate, understanding the differences between types of co-ownership is crucial. In this scenario, Pete and Joe were joint tenants of an apartment building. A key characteristic of joint tenancy is the right of survivorship, meaning if one joint tenant dies, their interest in the property automatically transfers to the surviving joint tenant(s).
However, if a joint tenant, such as Pete, sells his interest to someone else, like Clem, the unity of ownership is broken. In this case, Clem does not become a joint tenant with Joe, because the sale has severed the joint tenancy. Instead, Clem becomes a Tenant in Common with Joe, as a joint tenancy can only exist if the four unities of possession, interest, title, and time are intact. Once Pete sells his share, these unities are fragmented, and the joint tenancy turns into a tenancy in common by default, where no right of survivorship exists and each tenant owns an individual part.
Therefore, the correct answer is: a) Clem becomes a Tenant in Common with Joe.
