concurrent estates

Question 1

Joint Tenancy with Rights of Survivorship:

Answer 1

• owned by two or more with right of survivorship (i.e. when one joint tenant dies, title passes to the other by operation of law)
• not devisable/ descendible
• requires TTIP (same time, title, identical interests; and right to possess the whole)
• right of survivorship must be clearly express or TIC is presumed

Question 2

Tenancy by the Entirety

Answer 2

• Same as JTWROS but applies to married couples

- presumed in any conveyance to a married couple unless stated otherwise

Question 3

How is a tenancy by the entirety severed?

Answer 3

death, divorce, mutual agreement, or a joint creditor of both spouses

Question 4

Tenancy in Common

Answer 4

• Default concurrent ownership
• each co-tenant owns an individual part and each has a right to possess the whole
• freely devisable, descendible, and alienable

Question 5

What are the co-tenant’s duties regarding rent/profit from third parties?

Answer 5

a co-tenant leasing all or part of the property to a third party must account to other co-tenants and provide them with a fair share of rental income

Question 6

Can a co-tenant recover for repairs?

Answer 6

Repairing co-tenant may seek contribution from other co-tenants for necessary repairs + made with notice

Question 7

Can a co-tenant encumber the property?

Answer 7

a co-tenant may only encumber her individual interest in the property, but not the interests of other co-tenants

Question 8

Can one co-tenant adversely possess against the other?

Answer 8

Only if the co-tenant in exclusive possession has ousted the other co-tenant