Question 70 4 pts Fred and Wilma own Flintstone Farms LLC as a family farm LLC.

Question

Question 70 4 pts Fred and Wilma own Flintstone Farms LLC as a family farm LLC. Wilma also is a common tenant with her brothers and sisters in Rubble Ranch. If creditors of Flintstone Farms get a judgment against Fred and Wilma, they can foreclose on Wilma's interest in Rubble Ranch to satisfy their judgment (if necessary)against Flintstone Farms. O True O False Question 71 4 pts In partition a co-owner cannot go to court and force a division or sale of co-owned property, if any of the other co-owners oppose the partition. O True OFalse Question 72 1 pts Inc. is an abbreviation for incorporated, and means that the entity with Inc. in its name is a corporation O True O False

Explanation / Answer

70. False

This is regarding Flintstone Farms therefore there is no way they can foreclose on Wilma's interest in Rubble Ranch because she is involved personally and it is different from Flintstone Farms therefore there is no liability in this case.

71. False

A co-owners share is transferable, therefore the person can actually transfer his or her share of property.

72. True

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