Final answer:
All of the following are forms of joint owner-ship recognized under IL law EXCEPT` general partnerships.`
The answer is option ⇒1
Step-by-step explanation:
Joint tenancy, tenancy by the entirety, and tenancy in common are all recognized forms of joint ownership in Illinois.
Here's an explanation:
- 1. Joint ownership refers to the ownership of property or assets by two or more individuals.
- 2. In the given options, general partnerships is the form of joint ownership that is NOT recognized under IL law.
- 3. A general partnership is a business structure where two or more individuals agree to share the profits, losses, and liabilities of a business.
- 4. While general partnerships are a recognized form of business ownership in many jurisdictions, they are not considered a form of joint ownership of property under Illinois law.
- 5. However, the other options provided, such as joint tenancy, tenancy by the entirety, and tenancy in common, are all forms of joint ownership that are recognized under Illinois law.
The answer is option ⇒1
Your question is incomplete, but most probably the full question was:
All of the following are forms of joint owner-ship recognized under IL law EXCEPT
general partnerships
joint tenancy
tenancy by the entirety
tenancy in common.