Joint Tenancy with Right of Survivorship
Concerning the legal issue with Opie whose right of survivorship was passed onto him by Andy who is now deceased, Barney has to apply the joint tenancy with right of survivorship. This is where there is share possession of land and that the joint tenants own undisputed interest in the land as a property (Jacobus, 2010). Opie as a survivor has equal share to the property but has no right to sell off or use the property as collateral without consulting Barney. This is because the joint tenancy to the land is vested exactly for a similar period without any form of alteration in the lifetime of the tenants. The property is held by both tenants under an equal title, which entitles them to enjoy same privileges till one of them dies. In this case, Opie takes a loan using the joint property as collateral and defaults. Barney is not bound by the loan to which Opie has defaulted as it was the duty of the loaning institution to conduct an investigation on the collateral to determine whether Opie was the sole owner of the property before granting him a loan. Since Barney is still alive, the rights to the property cannot pass to Opie. There must be mutual agreements to sell the land or take a loan on the property where the proceeds must be shared equally.
On the second property, Barney is faced with the challenge of adverse possession principle where Ernest took the beach house as a result of lapse of limitations to be ejected (Brown & Myers, 2009). It is evident that Barney has not used the beach for the last 20 years or even maintained it. Land acquired through adverse possession cannot be reposed since the statute of limitation for eviction will bar Barney from instituting legal proceedings to recover the land. This relies on the intent of Ernest to claim and hold the land at the beach in North Carolina against the demonstration of this objective and aggressive possession of the land such that Barney should...