concurrent estates

Question 1

concurrent estates

Answer 1

joint tenancy with right of survivorship, tenancy in common, and tenancy by the entirety

Question 2

joint tenancy

Answer 2

Two or more own with the right of survivorship

alienable intervivos but severs if unilateral
* unless they either do it together or there are more than 2 JTs
* otherwise creates a tenancy in common with new person

neither devisable nor descendible

created by the four unities: TTIP
* at the same time, by the same title, identical equal interests, right to possess the whole

and created by clear expression of intent

severed:
* sale
* partion: voluntary (ambiable) or
judicial (partion in kind of forced sale)
* usually not mortgages

Question 3

lien theory of mortgages

Answer 3

majority view

if JT encumbers her individual share in the JT to back up/collateralize a bank’s loan to her, all that the bank has is a lien in the share –> does not sever a JT

if JT takes out mortgage and then dies –> property passes free and clear to the surviving JT if they didn’t know about it na did not sign on

Question 4

title theory of mortgages

Answer 4

mino view

encumbrance by lien will sever the JT as to that encumbered share

Under this view, giving a creditor a lien on one’s share is the equivalent of transferring title to that creditor, thus destroying unity of title, severing JT

Question 5

tenancy by the entirety

Answer 5

A protected marital interest between spouses with the right of survivorship

Arises presumptively in any grant to married partners unless the language of the grant clearly indicates otherwise

No unilateral transfer or encumbrance

severed via death, divorce, or execution of a lient by creditor of both spouses (but if jsut one than cannot touch it to satisfy the debt)

Question 6

tenancy in common

Answer 6

devisable and descensible too (and alienable)

no right of survivorship

Co-tenant owns individual part + right to possess whole

can have unequal shares

can partition
* partition in kind preferred by courts

Question 7

posession

rights and duties of co-Ts

Answer 7

no ouster: wrongful exclusion from part/whole

Each gets to possess and enjoy the whole (even if don’t own all of that)

Question 8

rents & profits

Answer 8

None from co-tenant in exclusive possession (unless ouster)

but co-T who leases all or part of the tenancy to others must provide other Co-Ts w fair share of rental income apportioned to their ownership

Question 9

carrying costs

Answer 9

each pays his fair share

A CT in sole possession can pay the taxes and then compel contribution from the other co-tenants

BUT: co-tenant in sole possession is reimbursed only for the amounts that exceed the rental value of the property

Question 10

repairs & improvements

Answer 10

repairs:
* a CT who pays more than his pro rata share of the cost of necessary repairs, is entitled to contributions for reasonable necessary repairs with notice

improvements
* No affirmative right to contribution for unilateral improvements made by one Co-T during life of tenancy
* but at partition: credit equal to value increase he cause OR (so called) improver suffers a debit equal to any diminution in value he caused via “improvement”