Concurrent Estates Flashcards
What is a Joint Tenancy (JT)?
Two or more people own the property with a right of survivorship.
What is a Tenancy in Common (TIC)?
Two or more people own the property with no right of survivorship.
What are the four unities required to create a Joint Tenancy (JT)?
- At the same time.
- By the same title.
- Identical
- Identical rights to possession
Can you sell interest in a Joint Tenancy (JT)?
No. Assume A, B, and C all enter a JT.
C sells his interest to D.
A and B still have a JT with each other, but A and B are both TIC with D.
Can an interest in a Joint Tenancy (JT) descend to an heir?
No, because the Right of Survivorship means that the surviving possessor’s absorb the decedent’s property interests.
Can you sell interest in a Tenancy in Common (TIC)?
Yes.
Can an interest in a Tenancy in Common (TIC) descend?
Yes.
What are the rights and duties of Co-Tenants?
- Possession: Each co-tenant is entitled to possess and enjoy the property.
- Rent from a co-tenant in exclusive possession: A co-tenant in exclusive possession is not liable to other tenants for rent unless he ousted the others.
- Rent from third parties: A co-tenant who leases all or part of the premises to a third party must account to his co-tenants, providing them fair share of the rental income.
- Adverse possession: Unless a co-tenant has ousted the other, a co-tenant in exclusive possession cannot acquire title to the whole to the exclusion of the others through adverse possession.
- Carrying Costs.
- Repairs: During the life of the co-tenancy, the repairing co-tenant enjoys an affirmative right to contribution for any reasonably necessary repairs that he makes, provided that he has notified the others of the need for the repairs.
- Improvements: During the life of the co-tenancy, there is no affirmative right to contribution for improvements.
- Waste: A co-tenant must not commit waste.
- Partition
What is the right to possession with regard to the rights and duties of co-tenants?
Assume A owns 90% of the property and B owns 10% of the property.
Despite B only owning 10% of the property, B is entitled to the full use and enjoyment of 100% of the property.
What is the right to rent from a co-tenant in exclusive possession with regard to the rights and duties of co-tenants?
Assume A owns 90% of the property and B owns 10% of the property.
Assume A moves out.
Even though he owns 90% of the property and has allowed B exclusive possession of the property during this time, B does not owe rent to A unless B has committed ouster.
If B denied A access to the premises, then B has committed ouster and would owe rent.
What is the right to rent from third parties with regard to the rights and duties of co-tenants?
Assume A owns 90% of the property and B owns 10% of the property.
Assume A rents out the basement of their shared property to C.
Because B owns 10% of the property, B is owed 10% of the rental income from A’s rental of the basement to C.
What does it mean that a co-tenant in exclusive possession cannot acquire title to the whole without ouster with regard to the rights and duties of co-tenants?
Assume A owns 90% of the property and B owns 10% of the property.
Assume A moves out.
B cannot claim adverse possession unless they expressly make it clear that A is welcome back, because their possession is not hostile.
What is the right to carrying costs with regard to the rights and duties of co-tenants?
Assume A owns 90% of the property and B owns 10% of the property.
A would be responsible for 90% of the property’s carrying costs (e.g., taxes) and B would be responsible for 10% of the property’s carrying costs (e.g., taxes).
Example: If they owe $1,000 in Property Tax/year, then A would be responsible for $900/year and B would be responsible for $100/year.
What is the right to repairs with regard to the rights and duties of co-tenants?
Assume A owns 90% of the property and B owns 10% of the property.
If there are reasonably necessary repairs that must be made and A notifies B that they must be made, then A is entitled to contribution for the cost of those repairs equal to B’s undivided share.
Example: The property needs a new roof because the roof leaks. It will cost $1,000 to repair the roof. A pays $1,000 to repair the roof.
A is entitled to get $1,000 (cost of repairs) * 10% (B’s undivided share of ownership) = $100 as contribution for the repairs.
What does it mean that there is no affirmative right to contribution for improvements with regard to the rights and duties of co-tenants?
Assume A owns 90% of the property and B owns 10% of the property.
Assume A decides to spend $10,000 on building a new deck.
Even though he spent $10,000 on building a new deck and even though he only has 90% share of ownership, A is still not entitled to contribution from B.
