2. What is the difference between a joint tenancy and à tenancy 3. What are the

Question

2. What is the difference between a joint tenancy and à tenancy 3. What are the requirements for acquiring property by adverse po 4. W hat is contained in an environmental impact statement, and w S. What are three main goals of the Clean Water Act? Answers to the even-numbered Learning Objectives Check que usiness Scenarios and Case Problems 4-1. Property Ownership. Twenty-two years ago, Lorenz was a wanderer. At that time, he decided to settle down on an unoc- cupied, three-acre parcel of land that he did not own. People in the area told him that they had no idea who owned the property. Lorenz built a house on the land, got married, and raised three children while living there. He fenced in the land, installed a gate with a sign above it that read "Lorenz's Home- stead," and removed trespassers. Lorenz is now confronted by Joe Reese, who has a deed in his name as owner of the property.

Explanation / Answer

Lorenz has built house on the land and installed gate and fence, removed trespassers on the land. Now Joe Resse who has deed came and confronted. Lorenz will become the legal owner of the property as he paying taxes and required expenses for better care of asset so he can even choose to file a suit against Joe

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