Able and Baker buy Blackacre for One Million dollars; Able puts in $800,000.00; Baker puts in...
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Able and Baker buy Blackacre for One Million dollars; Able puts in $800,000.00; Baker puts in $200,000.00. They hold title as joint tenants. Who owns what portion of that property?
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Able owns one half; Baker owns one half.
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Able owns 80%; Baker owns 20%.
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Able owns 100%; Baker owns 100%.
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Able owns 100%; Baker owns nothing.
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Homework Answers
Able owns 100%; Baker owns 100%.
In this case it is quite clear that as they form a joint tenancy relationship, they enjoy equal ownership of property and equal rights as well.
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