Co-Ownership

Question 1

What is co-ownership?

Answer 1

Multiple parties have a shared possessory interest in the whole

Question 2

Types of co-ownership

Answer 2

TEnancy in common
Joint tenants
Tenants by the entirety

Question 3

In co-ownership, you do not need [] to transfer right in the property

Answer 3

Consent

Question 4

Tenancy in common

Answer 4

No survivorship right. Conveyed by deed, will, or intestate succession.

Question 5

Joint Tenants

Answer 5

Right of survivorship. Must specify one is being created and have the four unities. Can’t be passed by will or intestate succession and is DESTROYED BY CONVEYANCE

Question 6

A [] destroys a joint tenancy

Answer 6

Conveyance

Question 7

What are the four unities?

Answer 7

Time: acquired at same time
Interest: equal undivided share
Title: same instrument
Possession: right of possession to whole

Question 8

The right of survivorship [] other methods of conveyance

Answer 8

Trumps. it will beat a will

Question 9

Title v. Lien theory

Answer 9

In a title theory state, mortgaging an interest severs the tenancy

In a lien theory, it does not

Question 10

Tenancy in entirety

Answer 10

Joint tenancy requiring the four unities in addition to marriage

Question 11

Partition

Answer 11

Available to joint tent ants and tenants in common. Rights are separated by court

Question 12

Two types of partition

Answer 12

By kind: ct divides up land according to interest
By sale: sale land

Question 13

Ouster

Answer 13

Action available to joint tenant when they have been excluded from the land. Must be active exclusion

Question 14

True or False: leasing an interest destroys a joint tenancy

Answer 14

False. A lease does not destroy a joint tenancy. The joint tenant may be entitled to collect rents.