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Property > Concurrent Estates > Flashcards

Concurrent Estates Flashcards

1
Q

Creation of joint tenancy

A

TTIP
1. At same time
2. Same title
3. Identical equal interests
4. Right to possess whole

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2
Q

Main feature of a joint tenancy

A

Survivorship rights (deceased tenant leaves his interest to other tenant)

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3
Q

Alienable definition

A

Able to sell, gift , transfer

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4
Q

Devisable definition

A

Can pass by will

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5
Q

Descendable

A

Can pass to heirs via statute

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6
Q

Is a joint tenancy alienable , devisible, or descendable?

A

Only alienable

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7
Q

Ways to sever a joint tenancy

A

•Sale/Transfer (even w/o consent)
•Partition
•Mortgage (only in minority title theory states)

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8
Q

Main feature of tenancy by entirety

A

Only between married spouses with survivorship rights and untouchable

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9
Q

Severance of tenancy by entirety

A

Divorce
Death
Execution of lien by creditor of both spouses

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10
Q

Main features of tenancy in common

A

Default co tenancy
No survivorship rights
Each co tenant owns individual part + right to possess whole (not equal shares)

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11
Q

Is a tenancy in common devisable, descendable, and alienable?

A

Yes

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12
Q

Voluntary waste

A

Willful destruction

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13
Q

Permissive waste

A

Neglect

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14
Q

Ameliorative waste

A

Unilateral change,
Increase in value

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15
Q

Can co tenants adversely possess property

A

No unless ouster

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16
Q

If a co tenant is in exclusive possession, is he liable to others for rent

A

No

17
Q

What are carrying costs and who must pay them?

A

Taxes and mortgage interest

Each co tenant must pay whatever his/her fair share is

18
Q

Must a co tenant be compensated for reasonable repairs

A

Yes as long as notice
Other co tenant pay their fair share

19
Q

Can a co tenant be compensated for unilateral improvements

A

No but gets credit if partition or debit if decrease in value

20
Q

Type of partition

A
  1. In kind - voluntary, CT’s prefer, divide physically
  2. Judicial - forced sale with division of proceeds

Property (7 decks)

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