Barney

Sharetha Williams

Barney Discussion Board 3

Legal Issues in Business BUSI 561

September 22, 2012

Barney is a man who seems to have fallen on circumstances of bad luck. Not only has Barney lost his properties, but he has also lost his car. It is a sad case to see that he has gone through so much in just a matter days which may have Barney feeling lost and hurt. As Barney’s attorney it is best to give him the best legal advice and help him understand his options even if there may be a possibility that he may not be able to get back anything that he has lost. What we will now look into his all his rights and what he is entitled too.

Joint tenancy with the right of survivorship is “where two or more people hold title to an asset” (James T. Blazek & Associates, P.C., L.L.O., 2008). Barney went into a joint tenancy and now he is the sole survivor out of the three that went into the tenancy, however, Barney had put in his will leaving the interest of the property to his son Opie. What Opie has now done is used the interest on the property as collateral causing the property to be seized. This is what we have to look at and determine even though this is stated in a will, is this something that Opie has rights too? Opie should not have been able to use the interest due to the fact that Barney is still alive if you look into joint tenancy and also consider that this interest of the property was only stated in Barney’s will. This would make the bank at fault due to Opie using the interest and the bank does not have any proof that Opie is even entitled to the interest of the property.

Earnest and Barney have known each other apparently for a while, Barney had no idea that Earnest was living on the mountain property. Now the decision of how this can be handled is looked into. What Barney and Earnest are faced with now is adverse possession. Cornell University Law School states that adverse possession “is when a person in possession of land owned by someone else...