Illinois Real Estate Exam Practice Question
The sale, or pledge for security, of property held in tenancy by the entirety requires
Correct Answer: C
Rationale: In tenancy by the entirety, both spouses hold equal and undivided interests in the property, meaning both must agree to any sale or pledge. Therefore, the signatures of both owners are necessary for the transaction to be valid.
Option A is incorrect because property can be encumbered and still be sold with the consent of both owners. Option B is misleading; while a fair exchange is ideal, it is not a legal requirement for the sale to be effective. Option D is also wrong; suing for partition is a separate legal action that does not pertain to the sale or pledge of the property.
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