Co-Ownership

Question 1

Joint Tenancy

Answer 1

Two or more own with the right of survivorship.

Alienable so you can sell it during your lifetime.

Not divisible or descendible.

Cannot leave to strangers in a will.

Question 2

Right of survivorship

Answer 2

when one joint tenant dies his share goes to the surviving joint tenant

Question 3

Four Unities to have a Joint Tenancy

Answer 3

1. Time - interests vest at the same time
2. Title - by the same instrument
3. Interests - same interests
4. Possession - right to possession of the whole

Question 4

How to sever a joint tenancy?

Answer 4

1. Sale a joint tenant’s sale servers the joint tenancy to the seller’s interests. Buyer is a tenant in common
2. Partition

can convey to 3rd party to make tenant in common

JT interests are not descendilbe

Question 5

Voluntary Agreement Partition

Answer 5

All parties must agree to end relationship

Question 6

Judicial Partition

Answer 6

Court action for physical division of Blackacre if in the best interests for all. Usually best for agricultural or rural lots

Question 7

Partition by Sale

Answer 7

Court ordered forced sale of land with a division of profits. Only used if land cannot be physically divided

Question 8

Tenancy by the Entirety

Answer 8

Marital interest between married partners with the right of survivorship. Fiercely protected.

• Creditors of only one spouse cannot breach this tenancy
• Neither tenant acting alone can defeat the right of survivorship by trying to sell to another

Question 9

Tenancy in Common

Answer 9

Two or more owned with no right of survivorship

1. Owns the individual part and has the right to possess the whole
2. No survivorship rights
3. Presumption always favors tenancy in common

Question 10

Rights and Duties of Co-Owners

Answer 10

1. Possession - entitled to whole
2. Rental income from 3rd party
3. Right to contribution during the life of co-tenancy for any reasonable repairs
4. No affirmative right to contribute for improvements
5. At partition, improver gets credit equal to increase and suffers debit equal to decrease in value
6. Must not commit waste (voluntary, permissive or ameliorative waste)

Question 11

Creditors

Answer 11

without recourse after JT’s death. Prior to death can disappear and tenancy in common is created. by collecting against one JT bank can destroy JT

Question 12

Straw

Answer 12

a person who briefly takes legal title for the sole purpose of reconveying the property back to his grantor

Question 13

Severance

Answer 13

turns a joint tenancy into a tenancy in common between the severed interests and the remaining joint tenants.

** For a JT to sever and become Tenancy in common must use a straw

Question 14

Ouster

Answer 14

when occupying tenant does stuff to kick other tenant out

1. denial of entry –> changing locks
2. combined with acts inconsistent with co-ownership, may result in AP by co-tenant

Question 15

Partition in Kind

Answer 15

physical partition by court