Co-Ownership

Question 1

Joint Tenancy

Answer 1

• owners hold as one
• no inheritience, divising, or transfer of interest when an owner dies.
• Surviving co-owner maintains share without interference of the other owner.
• Unities= Time, Title, Interest, & Possession
• Magic Language= “Right of Survivorship”
• Transferrable inter vivos but severs joint tenancy with respect to that share and owner becomes tenant in common with other owners (other owners remain joint tenants)
• Lien Theory: (Majority) Does not destroy share- transfer of title may though.
• Title Theory: (Minority) Does sever joint tenancy.

Question 2

Tenancy by the Entirety

Answer 2

• Marital property only
• Unities: time, title, interest, possession & person
• partition to the agreement must be agreed to by the husband and wife.

Question 3

Tenancy in Common

Answer 3

• Default
• Explicit or Implicit
• Alienable (transferrable)
• Ownership bu part but right to possess the whole unless restricted by the agreement.

Question 4

Partition by Sale

Answer 4

• Two conditions must be satisfied
• (1) when the physical attributes of the land make dividing it impracticable or inequitable
• (2) the interests of the owners would be better promoted

Question 5

Partition in Kind

Answer 5

• Actual physical division of the land proportionate to the parties interests
• Most preferred by courts because we don’t like taking land from people.

Question 6

Owelty

Answer 6

Money paid to one tenant for damages to the property

Question 7

Contributions

Answer 7

• T who pays more in taxes, mortgages, repairs, etc… may seek contribution from other Ts
• (Majority Rule) T in occupation is not entitled to the other T in rent unless: (1) there is an agreement between the parties; (2) Ouster- the T occupying prevents the other T from use or entry.