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Question
Karen, Kelsey, Rita, and Lizzi own a large commercial building as concurrent owners. They are tenants with the right to survivorship. Lizzi transfers her one-quarter interest in the building to a private charity organization owned by Stella. Under which of the following forms of concurrent ownership would Karen, Kelsey, and Rita become the owners of the property following Lizzi's death without the inclusion of the private charity organization run by Stella?
A) a tenancy by entirety
B) a community property
C) a joint tenancy
D) a tenancy in common
Answer
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