Co-ownership of land

Question 1

What do co-owners of a legal estate always own land as in England and Wales?

Answer 1

Joint tenants

Question 2

Joint tenants each own an ________ and _____ interest in the ______ of the property

Answer 2

undivided, equal, whole

Question 3

Joint tenancy includes a right of ….

Answer 3

survivorship

Question 4

Under the doctrine of survivorship, the deceased’s interest is _________ ______ in any joint tenant still ________.

A joint tenant subsequently can’t leave their share to someone in their ____

Answer 4

automatically vested, living, will

Question 5

What is the maximum no. of legal owners/joint tenants and what is the minimum age?

Answer 5

No. - 4
Age - 18

Question 6

Whenever land is owned by more than 1 person, a ______ of land automatically arises, and the co-owners have the behind-the-scenes _________ _________ interests in the property

Answer 6

trust, beneficial equitable

Question 7

What are 2 ways equitable interests can be held?

Answer 7

1. Joint tenancy
2. Tenants in Common

Question 8

Tenants in common own _________ interests, but these will not necessarily be _______

Answer 8

undivided, equal

Question 9

Is there a right of survivorship in a tenancy in common? What is the effect of this?

Answer 9

No - a TIC can leave their interest to someone in their will

Question 10

How is the behind-the-scenes beneficial interest usually evidenced for registered land?

Answer 10

Form A restriction on the Proprietorship register

Question 11

What does a declaration of trust set out?

Answer 11

The agreement between co-owners as to how beneficial interest is to be held

Question 12

Is a declaration of trust conclusive, meaning it applies irrespective of initial financial contributions between the parties?

Answer 12

Yes

Question 13

What is a severance of joint tenancy?

Answer 13

Where a co-owner(s) convert their equitable interests from a joint tenancy to a tenancy in common

Question 14

What are four ways to sever a joint tenancy?

Answer 14

1. Notice in writing
2. Treating their share as separate
3. Form A restriction - agreement/notice
4. Bankruptcy of a JT

Question 15

What will a court presume if the intention of co-owners as to how they hold their beneficial interest is unclear?

Answer 15

That the beneficial interests are the same as the legal interest in the property (and so is a joint tenancy = undivided and equal)

Question 16

What is overreaching?

Answer 16

Where purchase money from a buyer is paid to at least 2 trustees, the buyer will take the property free of the behind-the-scenes beneficiaries’ interest. The interest detaches from the land and attaches to the purchase money

Question 17

Courts have held that where a mortgage advance is paid to two registered proprietors, payment has been made to two ______ and the interest of the behind-the-scenes beneficiaries will be __________.

Answer 17

trustees, overreached

Question 18

If property is owned in the name of one party but there is someone else living at the property who has an interest in the property (e.g. a spouse who has contributed to the purchase price), courts are willing to allow the non-owning occupier to stay in ________ of the property, thus defeating the mortgagee’s ability to _________.

Answer 18

occupation, repossess

Question 19

If co-owners cannot agree how or when to dispose of a property, what can a trustee/person with an interest in property subject to a trust (including co-owners) do?

Answer 19

Apply to the court for an order to sell

ss14 and 15 TLATA 1996 permit this.