4. Co-Ownership

Question 1

What are the types of co-ownership?

Answer 1

Joint tenancy
Tenancy by entirety
Tenancy in common

Question 2

What is co-ownership?

Answer 2

Right to enjoyment + possession of land

Question 3

What is required for Joint Tenancy?

Answer 3

Same title
Same time
Equal shares
Possession of whole
Right of survivorship (clearly expressed)

Question 4

Does right of survivorship override will intestacy?

Answer 4

Yes

Question 5

How can Joint Tenancy be terminated?

Answer 5

Severance and sale

• Mere/Actual contract
• Buyer becomes Tenant in Common (NOT joint tenant)
• Common law: If BOTH JTs enter sale => NO severance!!!
• Other states: If BOTH JTs enter sale => Severance!!!

Severance and partition

• Voluntary agreement
• Partition in kind (judicial division)
• Forced sale (Judicial sale)

Severance and mortgage

• Majority (lien theory) - Mortgage on share => NO severance
• Minority (title theory) - Severance

Question 6

What is required for Tenancy by Entirety?

Answer 6

Same title
Same time
Equal shares
Possession of whole (spouses)
Right of survivorship

Question 7

How can Tenancy by Entirety be terminated?

Answer 7

Severance of right of survivorship
- Execution/Agreement/Divorce/Death

Partition (voluntary)

Question 8

How can Tenancy by Entirety’s share be protected?

Answer 8

Creditors
- Creditor can NOT touch tenancy for satisfaction of spouse’s debt

Unilateral conveyance
- Spouse can NOT terminate right of survivorship by selling his share to TP

Question 9

What is required for Tenancy in Common?

Answer 9

Different interests

Possession of whole

Question 10

How can Tenancy in Common be terminated?

Answer 10

Partition

Question 11

What are Co-Tenants’ rights?

Answer 11

Possession
- Sue (for possession) for wrongful exclusion

Repairs
- Co-Tenant is entitled to contribution from other Co-Tenants for any pro rata share he pays towards necessary and reasonable repairs

Improvements

• Co-Tenant is NOT entitled to contribution from other Co-Tenants for any pro rata share he pays towards improvements
• UNLESS partition exists (entitled to credit for improvement OR debt for reduction in land value)