Co-Tenancy

Question 1

Tenancy in Common

Answer 1

default estate created when land is conveyed to two or more people UNLESS express language states that the parties have survivorship right or if conveyed as “husband and wife”

each owner has undivided interest in property and has the right to use and enjoy entire property

interest passes by bequest or intestacy

Question 2

Tenancy by Entirety

Answer 2

default conveyance to a married couple; right of survivorship

Question 3

Joint Tenancy: Creation

Answer 3

must have clear express intent to convey a “joint tenancy with right of survivorship”

must be created at the same time, in the same title, same interest, and possession

Question 4

Joint Tenancy: Severance

Answer 4

one joint tenant UNILATERALLY transfers his ownership interest in the property= tenants then hold property as tenants in common

Lien theory= joint tenant takes out mortgage on their interest does not sever joint tenancy

Title Theory= joint tenant takes out mortgage on their interest severs joint tenancy

Question 5

Rent from Co-Tenant

Answer 5

out of possession co-tenant DOES NOT have the right to receive rent UNLESS otherwise agreed or wrongfully ousted

Question 6

Rent from Third Party

Answer 6

co-tenant entitled to a fair share of rent received from a third-party

Question 7

Repairs

Answer 7

Co-tenant is entitled to reimbursement for the costs of necessary repairs paid for unless there was wrongful ouster

Question 8

Improvements

Answer 8

co-tenant is NOT entitled to reimbursement for improvements to the property unless otherwise agreed

improving co-tenant is entitled to downside risk or upside gain when property is sold