2018 BUS607 Week 6 Discussion 2.docx

Currency is treated as an intangible personal

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merely represent intangible rights. Currency is treated as an intangible personal  property. More than one person may own real property. Ownership of real property by two or  more persons is known as concurrent ownership. Four types of concurrent ownership  exist: (1) joint tenancy with right of survivorship, (2) tenancy in common, (3) tenancy by  the entirety, and (4) community property. Joint tenancy with the right of survivorship is  recognized in most states. Under a joint tenancy with the right of survivorship, each  owner owns an equal and undivided interest in the whole of the real property. Each  owner has the right to use and possess the entire real property; this right to use or  possession is held in common with the other owners. The right of survivorship provides  that if one of the joint owners dies, title to the real property be transferred to the  surviving joint owners. Tenancy in common is a form of co-ownership in which two or  more persons are each entitled to possession of the same real property. Unlike a joint 
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