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SAM OWNS HIS HOME IN SEVERALTY & HIS ROOF DECK AS TENANT IN COMMON. WHAT KIND OF BUILDING IS IT?

1 Answer

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Final answer:

Sam's ownership status indicates that he has sole ownership of his home but shares ownership of his roof deck with others, suggesting a multi-unit building like a condominium or co-operative.

Step-by-step explanation:

The question relates to property ownership and legal terms associated with it. When Sam owns his home in severalty, it means he has sole ownership of that property. However, when it comes to his roof deck, he is a tenant in common, indicating that he shares ownership of this specific part of the property with one or more people. Additionally, the term tenant in common implies that unlike joint tenancy, there is no right of survivorship among owners, so each owner's share can be freely sold, passed on, or inherited.

Given that Sam has different types of ownership interests in different parts of the same property, it suggests that this might be a multi-unit building, such as a condominium or co-operative, where individual units are owned in severalty, but common areas, like a roof deck, are owned jointly by all unit owners as tenants in common. Such structures allow individual ownership of apartments or units, while maintaining shared ownership of common spaces for the benefit of all inhabitants.

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