Co-ownership

Question 1

Joint tenancy

Answer 1

Equally entitled to the whole property.
Right of survivorship.

Question 2

Tenancy in common

Answer 2

Right to survivorship does not apply on death the equitable interest passes under the will or intestacy.

Essential shares of each tenant in common are expressly agreed and recorded in a deed of trust.

Question 3

Land registry practice

Answer 3

S44(1) LRA 2002 registrar has a duty when registering joint proprietors to enter form A.

When co owners have indicated on transfer they will be holding the property as tenants in common, land registry will place a restriction on the register of title.

Question 4

Severance of joint tenancy

Answer 4

Severance Turn into the joint tenancy into a tenancy in common in equity.

Achieved by including by written notice by one joint tenant to the other. Must take place whilst the parties alive it cannot be done by will. Bankruptcy of any joint tenant also automatically severs beneficial interest.

Question 5

Sale by sole surviving co-owner

Answer 5

Tenants in common- A second trustee will need to be appointed
Joint tenants- The sole survivor of joint tenants becomes the absolute owner and has the power to sell alone without any further requirement. The buyer should obtain a death certificate of the deceased joint tenant.