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Florida Real Estate Exam

Category - Florida

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Kim and Kelly bought a three story building in Tampa and took title as legal joint tenants. Kelly died testate. Kim now owns the building:

As a tenant by the entirety.
In severalty.
In absolute ownership under the law of descent.
Subject to the terms of Kelly's will.

Explanation

Answer B - As joint tenants die, their shares are divided among the surviving tenants until only one owner is left. The sole survivor then has fee simple estate in severalty.

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