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42. Are the sisters correct?
There are no applicable statutes.
The sisters now assert that the son, their brother, holds the mortgage for their benefit as well as for himself because as a tenant in common with his sisters, he has a fiduciary duty toward them.
The next year, the father died intestate. The father's heirs were the son and his two sisters. The sisters first learned of the mortgage just after their father died.
A son loaned his father a large sum of money. The father signed a 10-year promissory note and secured the note with a mortgage on his farm. The mortgage was promptly recorded.
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B is incorrect. Although it is true that the descendants took the farm as tenants in common rather than joint tenants with right of survivorship, it is not relevant to the analysis of whether the mortgage is part of the estate.
C is incorrect. Tenants in common do not owe each other fiduciary duties.
D is incorrect. Their shared ownership is not determinative of whether the mortgage is part of the estate passed on by the father.