John, Sarah, and Emily own a commercial building as joint tenants with rights of survivorship. John decides to sell his interest to Michael without the consent of Sarah and Emily. How does Michael hold his interest in the property after the sale?
Michael becomes one of the owners of his interest, while Sarah and Emily maintain their ownership.
Michael holds his interest as a tenant in common with Sarah and Emily.
Michael becomes a joint tenant with Sarah and Emily.
There are limitations on transferring interests among joint tenants.
When a joint tenant sells their interest, the new owner, Michael, holds his interest as a tenant in common with the remaining joint tenants, Sarah and Emily. The joint tenancy is broken for the portion sold.
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