Concurrent Estate

Question 1

Joint Tenancy

Four Unities

Answer 1

1) Time
2) Title
3) Interest
4) Possession

Question 2

Incident of Co-Ownership

Accountability Exception

Answer 2

1) Ouster: (1) keeping co-tenant off, or (2) exclusive possession.
2) Agreement to share
3) Lease of proper by co-tenant to 3rd party
4) Depletion of natural resources.

Question 3

Incident of Co-Ownership

Accountability General Rule

Answer 3

The Co-tenant does not have the account to another co-tenant for his share of profits.

Question 4

Joint tenancy V. Tenants In Common

Answer 4

Joint Tenant:
“Each own undivided whole”

Tenants in Common:
“Each own individual share of whole” (Share)

Question 5

Periodic Tenancy

Methods of Creation

Answer 5

1) By Express Agreement
2) By Implication: ( No agreement as to duration)
3) By operation of law

Question 6

Joint Tenant

Answer 6

1) Intent to create JT
2) Right of survivorship
3) Each own the undivided whole
4) Conveyance of interest —– Creates a Tic
5) No inheritance
6) Termination: Voluntary or Involuntary
7) Mortgages: Lein or title