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Bill and Mable are married and own a house. The deed to the house clearly states that title to the house is as follows: "Bill and Mable as joint tenants with right of survivorship." Unknown to Mable, Bill gives his interest in the house to his first-bornson, James, from a previous marriage. Bill dies without a will. Which of the following statements is correct:
a. Mable automatically receives Bill's interest in the property as a joint tenant when he dies.
b. Bill's gift to James without Mable's consent is an invalid transfer of a joint tenancy and is only valid if the transfer is recorded.
c. Mable automatically receives Bill's interest through the laws of intestate succession.
d. Bill's gift to James without Mable's consent is a valid transfer and terminates the joint tenancy and James and Mable hold the property as tenants in common.
A chart of accounts is a: list of account titles with corresponding reference numbers used by companies so that transaction items are consistently named. summary of each account's activity and its ending balance. list of each account and its balance ..
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Hanna Hark and Jamie Rice are watch repairmen who want to form a partnership and open a jewelry store. An attorney prepares their partnership agreement, which indicates that assets invested in the partnership will be recorded at their fair market val..
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