Concurrent Estates

Question 1

Tenancy in Common - characteristics

Answer 1

1. Two or more grantees with unity of possession
2. No right of survivorship
3. Each co-tenant holds undivided interest with unrestricted rights to possess while
4. Interest freely devisable/transferable

Question 2

Joint tenancy

Answer 2

1. Requires express language
2. Two or more persons own the property with ROS
3. Interest is alienable (NOT devisable/descendible)

Question 3

What are the 4 unities (PITT)

Answer 3

1. Equal rights to POSSESS the whole
2. With identical equal INTERESTS
3. Created at the same TIME
4. By the same TITLE

Question 4

What is severance

Answer 4

Converts a JT into a TC

• but only w/respect to the severed share

Question 5

Do you need consent to sale w/JT?

Answer 5

No

Question 6

What happens when one tenant sales JT interest?

Answer 6

It severs the JT as to seller but JT of non-transferred remains intact

Question 7

What is the impact of a mortgage on a JT?

Answer 7

Title theory - severs JT

Lien theory - does not sever JT

Question 8

Effect of judicial lien in JT

Answer 8

Typically, lien will NOT sever the JT

severance occurs when the property is levied and sold

Question 9

Tenancy by entirety characteristics

Answer 9

1. Same unities as JT (PITT) plus unity of person
   - parties must be married to each other when deed is executed or conveyance occurs
2. Neither party can alienate or encumber the property w/out consent is the other
3. Recognized in about 1/2 of states

Question 10

I stayed where TE is recognized, how do states test a conveyance to married couples?

Answer 10

Presume the conveyance creates a TE and that divorce converts it to a TC

Question 11

Rights of co-tenants

Answer 11

1. Possess the entire property
2. Right to collect contributions from other co-Ts for operating expenses (if in sole possession, only if they exceed the rental value of the property)
3. Right to compel other co-Ts to share expenses IF conditions met

Question 12

Obligations of co-tenants

Answer 12

1. Liable to other co-Ts for third-party rents

2. Duty of fair dealings to other co-Ts

Question 13

One co-T possesses entire property, need to pay rent?

Answer 13

Generally no, not required to pay rent when other CTs do not use the property

Question 14

If in sole possession, can CT collect contributions for operating expenses (such as taxes)?

Answer 14

Only if operating expenses exceed the rental value if the property

Question 15

When can a CT compel other CTs to share expenses for repairs?

Answer 15

If

1. The repairs are necessary AND
2. the CT seeks accounting or partition

** some states: may maintain a separate action for contribution in some states if notified other CT of need for the repairs

Question 16

Do CTs have a right to reimbursement for improvements?

Answer 16

No, except for contribution and partition

Question 17

Does CT owe a fiduciary duty’s to other CT?

Answer 17

Generally, no, except when a CT buys the property at a tax or foreclosure sale (the other CT can buy back their internet w/in a reasonable time)

Question 18

???What is a partition?

Answer 18

Splitting the land

Question 19

What is a partition in kind?

Answer 19

The physical division of the property

**preferred by the courts

Question 20

Which tenancies have the right to partition?

Answer 20

TC or JT, not TE

right to unilaterally partition property