Questions and Answers
What is the primary purpose of severance in the context of trusts?
To convert a JT to a TIC and avoid the rule of survivorship
What is a fundamental requirement for a trust to be valid?
Certainty of subject matter, objects, and intention
What is a characteristic of a joint tenancy?
The rule of survivorship applies
What is the role of the trustee in a trust?
Signup and view all the answers
What is a key difference between a joint tenancy and a tenancy in common?
Signup and view all the answers
What is the purpose of converting a joint tenancy to a tenancy in common?
Signup and view all the answers
What is required for a trust to be valid?
Signup and view all the answers
What is a characteristic of a tenancy in common?
Signup and view all the answers
What is the role of the beneficiary in a trust?
Signup and view all the answers
What is required for a trust to have multiple beneficiaries?
Signup and view all the answers
What is the main objective of severance in the context of trusts?
Signup and view all the answers
What is a necessary condition for a trust to be valid?
Signup and view all the answers
What is a key feature of a joint tenancy?
Signup and view all the answers
What is the primary difference between a joint tenancy and a tenancy in common?
Signup and view all the answers
What is the benefit of having multiple beneficiaries in a trust?
Signup and view all the answers
