Question

Bob, Fred, and Jack own equal interests in a parcel of land as tenants in common. Without the consent of the others, Jack leased his 1/3 share to Tom. Which statement is correct?

A. Bob, Fred, and Jack will share equally in the rent collected from Tom.
B. Jack is entitled to all of the rent collected from Tom.
C. Jack must designate the area that would be for Tom's exclusive use.
D. Tom may use only 1/3 of the property.

Answer 1

Jack is entitled all the rent collected from Tom for the one-third share of the property he leased to Tom, since as a tenant in common, he has a distinct share that he can lease independently.

Step-by-step explanation:

The correct statement is that Jack is entitled to all of the rent collected from Tom. Ownership in a tenancy in common arrangement means each owner has a distinct, separable share of the property. Jack, as one of the tenants in common, is within his rights to lease his one-third interest in the property to Tom without the consent of Bob and Fred, and he is entitled to the full amount of the rent paid by Tom for that share. Tom's lease does not impact Bob and Fred's interests, nor does it give Tom usage rights to the entirety of the property, only to Jack's third. Hence, options A, C, and D are incorrect.