Question

The inability of a corporation to qualify as a joint tenant in the ownership of property is due to the fact that:

A) It is controlled by a board of directors
B) It can be domestic or foreign
C) It has perpetual existence
D) Only community property can be held in joint tenancy

Answer 1

A corporation cannot qualify as a joint tenant in the ownership of property because it is considered a separate legal entity from its owners, known as shareholders.

Step-by-step explanation:

The inability of a corporation to qualify as a joint tenant in the ownership of property is due to the fact that it is considered a separate legal entity. A corporation is a distinct entity from its owners, known as shareholders. Unlike individuals or partnerships, a corporation cannot hold property as a joint tenant because it lacks the ability to form the necessary legal relationships required for joint tenancy.