Concurrent Estates

Question 1

A joint tenancy with the right of survivorship is…

Answer 1

where each owner holds an identifcal interest in the property and a right to ownership of the co-owner’s share in the event of such co-owner’s death.

Question 2

How is a joint tenancy created?

(the four unities)

Answer 2

1. The unity of interest;
2. The unity of title;
3. The unity of time; and
4. The unity of possession.

Question 3

Severence of a joint tenancy can occur in these three ways:

Answer 3

1. Voluntary agreement;
2. Judicial action & partition in kind;
3. Judicial action forced sale.

Question 4

Virginia is a lien theory state, which means…

Answer 4

a joint tenancy will not be severed by a mortgage, because the borrowers hold title to the property.

Question 5

This type of concurrent estate can be formed through married partners only…

Answer 5

tenancy by the entirety.

Question 6

A judgment lien against only one spouse will NOT attach to property held as tenants by the entirety unless…

Answer 6

the tenancy is destroyed (death, divorce).

UNLESS IRS lien, federal judgment, or emergency medical expenses.

Question 7

A tenancy in common is a form of ownership where…

Answer 7

each tenant has a distinct and separate interest in the property with a common right of possession.

Question 8

If specific langauge is not used to establish another form of co-ownership, what is the default form of concurrent estate?

Answer 8

Tenancy in common.

Question 9

Tenents in common are presumed to hold equal shares absent language to the contrary but…

Answer 9

this presumption may be rebutted by evidence of unequal contribution or contrary intent.

Question 10

Upon the death of a co-tenant, the co-tenant’s share…

Answer 10

descends to his or her heirs or passes by devise.

Question 11

If one co-tenant wrongfully excludes another co-tenant from possession of the whole or any part…

Answer 11

they’ve committed ouster.

Question 12

What are co-tenant’s responsibilities with respect to carrying costs?

Answer 12

each pays its fair share.

Question 13

Does a co-tenant enjoy a right to contribution for repairs made?

Answer 13

Yes, for reasonable, necessary repairs, provided they give notice to the other co-tenant(s) of the need for the repairs.

Question 14

A co-tenant must not commit waste. During the life of a co-tenancy, a tenant is permitted to…

Answer 14

bring an action for waste against another co-tenant.

Question 15

What is voluntary waste?

Answer 15

Willful destruction

Question 16

What is permissive waste?

Answer 16

Neglect

Question 17

What is ameliorative waste?

Answer 17

unilateral changes that increase value.

Question 18

Is there a right to contribution for improvements made by one co-tenant?

Answer 18

No, not during the life of the co-tenancy – but he may have a right to a debit at the time of partition.

Question 19

Courts prefer partition in kind, but will permit parition by sale when…

Answer 19

a fair and equitable physical division of the property cannot be made.

Question 20

A joint tenant or tenant in common may encumber her interest, but may not…

Answer 20

encumber the interests of other co-tenants.

Question 21

If one tenant in common mortgages her interest, the mortgagee can foreclose only on the…

Answer 21

mortgaging co-tenant’s interest.

Question 22

In a joint tenancy, a mortgage or lien will not sever the joint tenancy but…

Answer 22

a foreclosure sale will.

Question 23

In the case of a joint tenancy, a mortgagee or lienor runs the risk that the obligated co-tenant will die before foreclosure, which will…

Answer 23

extinguish the mortgagee’s or lienor’s interest.