Concurrent estates

Question 1

Joint Tenancy

Answer 1

TTIP
Time
Title
Interest (equal); can be unequal in NC
Possession of the whole

Grantor must clearly express survivorship rights.

Not devisable or descendable
Alienable , but destroys J/T

Severance SPAM: sale, partition, mortgage if title theory

NC: granting mortgage doesn’t sever j/t, unless intent to sever is expressed.

NC: must emphasize survivorship rights if granting them.

Question 2

Tenancy be the entirety

Answer 2

Marital interest between H+W w/ right of survivorship.
5th unity: unity of person.

H+W take as one

Can use a straw conveyance to satisfy time and title or convey directly to self and spouse. Presumed to be t/e.

If land convey to married couple and another person, married couple is treated as 1 unit.

Creditors can’t touch and no unilateral conveyance to 3rd party. (except federal tax lien - NC)

NC: 1 spouse can’t encumber by mortgage, sale, or lease except purchase money mortgage.

NC: terminated at death or absolute divorce, not divorce from bed and board.

Question 3

Rights of Co-Tenant

Answer 3

Possession: each has right to possess whole; no outster

Rent from Co-T: none, absent ouster

Rent from 3rd party: lease of premises must account to co-T for fair share of income.

Adverse possession: co-T can’t a/p w/ou ouster.

Carrying costs: each co-T must pay for portion of taxes and mortgage.

Repairs: contribution from other co-T if co-Ts advised of reasonable & necessary repairs.

Improvements: no contribution from co-T. But at partition, improver responsible for increase/decrease in value.

Waste: no waste and liability if commits.

Partition: any co-T can seek it.

Question 4

Tenancy in common

Answer 4

Each co-T owns individual party with right to possess whole. Descendible, divisable, and alienable.

No survivorship rights.

Question 5

NC law for slayer and cotenant

Answer 5

Law treats the slayer as though he died just before the co-T

The victim immediately gets the slayers share

If T/E or ROS: the victim’s estate immediately receives 1/2 property, then gets slayers share when slayer dies.

If 3 or more w/ ROS the victim’s share is converted to T/C and passes to his estate. The remaining co-Ts hold their shares w/ ROS. If slayer becomes final survivor, share passes to victim upon slayer’s death.

Slayer never benefits from killing.

Question 6

Partition (NC)

Answer 6

Courts favor partition in kind to partition by sale

For partition by sale, must prove by a preponderance of the evidence that a partition in kind would cause substantial injury to interested person.