Co-Ownership and LandLord-Tenant Flashcards
What are the types of co-ownership?
- Tenancy in Common
- Joint Tenancy.
- Tenancy in Entirety (for married people)
- Community Property
- Condominiums.
- Co-operatives.
What happens when a co-tenant in a TIC dies?
the interest goes to the heir or devisees. No right of survivorship.
what happens when a co-tenant in a Joint Tenancy dies?
The interest is divided among the remaining tenants.
What are the 4 Formalities of Creation for a Joint Tenancy?
- Time - the interest of both tenants must be created at the same time.
- Title - must be created by the same instrument.
- Interest - Equal interest which is undivided (equal share of ownership).
- Possession - all tenants must have the right of possession.
In a tenancy in common, may each tenant own a different interest?
Yes. In a TIC, each tenant may own a different share of the interest (i.e. 60/40, etc).
If a co-tenant in a Tenancy in Common only owns a 10% interest in the property, do they have the right to possess the entire property?
Yes. In a TIC, no matter how small the interest, each has a right to possess the entire parcel - undivided interest.
If the language is ambiguous as to whether it is a JT or TIC, which one shall be found.
Tenancy in Common.
In a JT and TIC, is there a duty to share cost of major improvements?
No. there is no duty to share cost of major improvements in JT or TIC.
In a JT and TIC is there a duty to share costs of basic repairs and necessary maintenance?
Yes.
Can a joint tenant sever the Joint Tenancy?
Yes. JTs have the ability to sever the JT.
How is a JT severed?
To terminate a JT, one of the 4 unities must be destroyed - can be accomplished by conveying the interest to a 3rd party (gift or sale)
What happens to the remaining owners when a JT is severed?
The remaining owners still have a JT relationship, but the severing owner (new owner) becomes a TIC with them.
If a JT is severed, does the severed owner (new owner) interest subject to the right of survivorship?
No. Severance of a JT eliminates the right of survivorship. The new owner is a TIC.
What is physical ouster?
When the person is forcibly/intentionally kept out (changing the locks)
Is the person who has been physically ousted owed proportionate rent?
Yes. Proportionate rent is owed by the person living on the property to the person physically ousted.
What is Constructive Ouster?
Where it is impracticable for both to stay.
If a spouse moves out of the marital residence by their own choosing entitled to rent from the remaining spouse?
No. A spouse who moves out of the marital residence by his own choosing for personal reason is not entitle to rent from remaining spouse.
What is a partition?
A court order to divide a property into separate portions according to each party’s relative interest in the property.
Can a JT be partitioned?
Yes.
Can a TIC be partitioned?
Yes.
What are the two types of Partition?
- Partition in Kind
- Partition by Sale
What is a Partition by Kind?
When the court partitions the property physically.
What is a Partition by sale?
Where the court forces a sale of the property and divides the proceeds among the owners accordingly.
When will a court order a partition by sale?
Only if
1. not practicable to partition in kind, or
2. partition in kind will cause substantial injury, or
3. If property is worth “materially less” divided than sold.
Can a JT and/or a TIC lease the property?
Yes. A JT and TIC may lease the property. (don’t need permission)
Do a JT or TIC need permission from other co-tenants to lease the property?
No. They may lease without the permission of other co-tenants.
If a property is leased in a JT or TIC, what portion of the property does the lessee get to possess?
The lessee gets full possession (though not exclusive).
If a co-tenant in a JT or TIC joins the lease, do they retain possession rights?
No. If the other tenants join in the lease, they may receive payment of rent, but they give up their possession rights.
If a TIC refuses to join in a lease executed by a co-tenant, may they eject the lessee?
No. A TIC who refuses to join in a lease executed by a co-tenant is not entitled to eject the lessee.
In a TIC may a co-tenant lease out his interest to a 3rd party without permission from the co-tenant?
Yes. In a TIC a co-tenant may lease out his interest to a 3rd party without permission from the co-tenant.