Co-Tenancy

Question 1

Joint Tenancy Formation

Answer 1

A concurrent interest in land where 2 people have an undivided interest. Created by express agreement with 4 unities that must be present: (TTIP)

1) time
2) title
3) interest
4) possession

Right of survivorship = when one dies, his interest is automatically transferred to the other

Question 2

Joint Tenancy Severance

Answer 2

JT is severed when

1) one joint tenant unilaterally transfers interest to another (Becomes a tenancy in common)
2) death
3) mortgage (only in title theory jurisdictions) or
4) lease by one JT (becomes tenancy in common)

If there are more than 2 joint tenants in a joint tenancy and one transfers their interest, a JT remains but only among the other joint tenants.

Question 3

Co-Tenant Entitlement to Rent

Answer 3

Co-tenant cannot collect rents from another co-tenant who is in exclusive possession unless 1) there’s a contrary agreement or 2) co-tenant was wrongfully oustered

Question 4

Rent from a Third Party

Answer 4

Out of possession co tenant is entitled to his fair share of the rent paid by 3rd party

Question 5

Reimbursement for Repairs

Answer 5

Co-tenant entitled to reimbursement for the costs of necessary repairs unless there’s been a wrongful ouster

Question 6

Reimbursement for Improvements

Answer 6

Cotenant who makes improvements isn’t entitled to reimbursement unless there’s a contrary agreement.

Only the improving cotenant is entitled to the increse in property value from the repairs

Question 7

Reimbursement for Mortgage & Tax Payments

Answer 7

All cotenants responsible for their share of mortgage, tax payments, or assesstments. Cotenant in sole possession can’t recover for mortgage payments unless it exceeds reasonable rental value of property